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Full text of "Sixt-Sixth Massachusetts Fire"

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Public Document No. 9 



Cfie Commontoealtf) of sgjaggacJmsettg 



ANNUAL REPOKT 



OF THE 



Commissioner of Insurance 



FOR THE 



Year ending December 31, 1920 



PART I 

FIRE AND MARINE INSURANCE 



LOaA*. ; Department of Banking and Insurance : Jj^rt^ 










' . •> . ,T 



BOSTON 

WRIGHT & POTTER PRINTING CO., STATE PRINTERS 

32 DERNE STREET 



Sk 



Publication of this Document 

approved by the 
Supervisor of Administration. 



■ - 






H2.o PJh. I, 
TABLE OF CONTENTS. 



[For Index to Companies, see end of volume.] 



COMMISSIONER'S REPORT. page 

Introductory, ............ v 

Companies admitted, .......... v 

Companies ceasing to transact Business, ...... vi 

Department Examinations, ......... vii 

Insurance Legislation in 1921, ........ viii 

Fire Insurance in Massachusetts during 1920, ..... x 

Department Finances, .......... xi 

Reports of Receivers op Insurance Companies, ..... xii 

Statutes enacted in 1921, ......... xiii 

Table 1. — Income, disbursements, premiums, losses, assets, liabilities and sur- 
plus to policy holders, Dec. 31, 1920, ..... xxiv 

Table 2. — Income during 1920, ........ xxxvi 

Table 3. — Disbursements during 1920, ....... xlviii 

Table 4. — Assets Dec. 31, 1920, Iviii 

Table 5. — Liabilities Dec. 31, 1920, Ixx 

Table 6. — Massachusetts business during 1920, ...... lxxxii 

Table 7. — Showing sources of gain or loss in surplus during 1920, . . . xciv 

Table 8. — Receipts and expenditures of the insurance department, . . cxxxiv 



DETAILED STATEMENTS. . 

Massachusetts mutual fire, marine and fire-marine companies, . 
Massachusetts joint-stock fire, marine and fire-marine companies, 
Fire, marine and fire-marine insurance companies of other states, 
United States Branches of foreign companies, 
Appendix, ......... 

Report of Department of Public Safety, Division of Fire Prevention, 



2 
123 
143 
559 
703 
709 



Stye CommomDealtt) of Jtta00acf)U0ett0 



Department of Banking and Insurance, 

Division of Insurance, Boston, July 1, 1921. 

To the General Court of Massachusetts. 

The Commissioner of Insurance hereby submits Part I of the 
sixty-sixth annual insurance report. This volume contains informa- 
tion relating to fire and marine insurance companies, and at the 
end thereof is published, as required by law, the entire report of the 
Division of Fire Prevention of the Department of Public Safety. 
It contains also various statistical tables, among them Table No. 7, 
which shows the sources of gain or loss in the surplus of the com- 
panies during the year 1920. The receipts and disbursements of the 
Insurance Department for the fiscal year ending Nov. 30, 1920, will 
be found in Table No. 8. 

The following companies of the classes covered by this volume 
were authorized to transact business in this Commonwealth in 1920 
subsequent to the date of the last report, or in 1921 prior to the 
date of this report : — 







Date of 




Corporate Name. 


Location. 


Author- 
ity. 


Capital. 






1920. 




The Fire Reassurance Company of New York, . 


New York, N. Y., 


July 2 


$400,000 


Prudential Fire Insurance Company 


Rochester, N. H., . 


July 26 


200,000 


Pacific Fire Insurance Company, 


New York, N. Y., 


Aug. 4 


400,000 


Peninsular Fire Insurance Company of America, 


Grand Rapids, Mich., . 


Aug. 5 


815,000 


The Metropolitan National Insurance Company, 


Havana, Cuba, 


Aug. 31 


200,0001 


Omaha Liberty Fire Insurance Company, . 


Omaha, Neb., 


Oct. 7 


200,000 


The Ohio Hardware Mutual Insurance Company, 


Coshocton, Ohio, 


Oct. 8 


- 


Beacon Mutual Fire Insurance Company, . 


Boston, Mass., 


Oct. 19 


- 


The British General Insurance Company, Limited, 


London, Eng., 


Oct. 19 


200,000 » 


Allied American Mutual Automobile Insurance Com- 


Boston, Mass., 


Nov. 9 


100,000* 


pany. 
Nippon Fire Insurance Company, Limited, 


Tokio, Japan, 


Nov. 16 


200,000 « 


National Bonding and Insurance Company, 


Cedar Rapids, Iowa, 


Dec. 6 


696,700 



1 Deposit capital. 



2 Guaranty capital. 



VI 



REPORT OF THE 







Date of 




Corporate Name. 


Location. 


Author- 
ity. 


Capital. 






1921. 




North American National Insurance Company, . 


Des Moines, Iowa, . 


Feb. 8 


$.589,668 


The Employers' Fire Insurance Company, . 


Boston, Mass., 


Feb. 8 


1,000,000 


Atlantic City Fire Insurance Company, 


Atlantic City, N. J., 


Mar. 28 


200,000 


The New India Assurance Company, Limited, . 


Bombay, India, 


Mar. 31 


200,000 ■ 


Bay State Mutual Fire Insurance Company, 


Lawrence, Mass., . 


April 5 


- 


The National Mutual Insurance Company, 


Celina, Ohio, . 


April 26 


50,000 J 


The Consolidated Assurance Company, Limited, 


London, Eng., 


April 26 


200,000 ' 


The Merchants' and Manufacturers' Mutual Insurance 


Mansfield, Ohio, 


May 2 


- 


Company of Mansfield, Ohio. 








Phenix Mutual Fire Insurance Company, 


Concord, N. H. f 


May 13 


100,000 2 



» Deposit capital. 



* Guaranty capital. 



The following companies of the classes included in this volume 
ceased to have authority to write business in this Commonwealth 
subsequent to July 1, 1920, and in 1921 prior to the date of this 
report : — 



Name of Company. 


Location. 


Capital. 


Remarks. 


Prudential Fire Insurance Com- 


Rochester, N. H., . 


$200,000 


Ceased as of Sept. 1, 1920. Reinsured 


pany. 






with Commercial Union Assurance 
Company of London. 


Union Insurance Company, . 


Bangor, Me., 


300,000 


Ceased as of Jan. 17, 1921. 


Central National Fire Insur- 


Des Moines, Iowa, . 


500,000 


Ceased as of Dec. 31, 1920, but notice 


ance Company. 






not received until May, 1921. 


Guardian Fire Insurance Com- 


Salt Lake City, Utah, 


200,000 


Ceased June 30, 1921. 


pany. 








The Rocky Mountain Fire In- 


Great Falls, Mont., . 


279,200 


Ceased June 30, 1921. 


surance Company. 









The North Branch Fire Insurance Company of Sunbury, Pa., 
was merged with the City Insurance Company of Pennsylvania, on 
Nov. 24, 1920, under the latter name. 

The Manufacturers Insurance Company of America of Chicago, 
111., was merged with the American Equitable Assurance Company 
of New York on Dec. 9, 1920, under the latter name. 

The corporate names of the following companies have been 
changed since the date of the last report: the London and Lan- 
cashire Fire Insurance Company Limited, to The London & Lan- 
cashire Insurance Company, Limited, on May 5, 1920, but notice 
was not received until September 18; the North British and Mer- 
cantile Insurance Company to North British and Mercantile Insur- 



COMMISSIONER OF INSURANCE. 



Vll 



ance Company Limited, on November 1; the National Bonding 
and Insurance Company to Inter-Ocean Reinsurance Company on 
Jan. 26, 1921; the Warsaw Insurance Company to Warsaw Insur- 
ance Company, Limited, on April 29, 1919, but notice was not re- 
ceived until May 11, 1921. 



Department Examinations. 

The following fire and marine insurance companies were examined 
by this Department during the year 1920: — 







Date of 


Name of Company. 


Location. 


Previous 
Ex- 
amination. 


Abington Mutual, 


Abington, . 


1917 


Berkshire Mutual, 














. 


Pittsfield, 








1917 


Boston Insurance, 














. . 


Boston, 








1917 


Citizens Mutual, 














, . 


Concord, 








1917 


Hampshire Mutual, 














. 


Pittsfield, 








1917 


Hingham Mutual, 














> 


Hingham, 








1917 


Holyoke Mutual, 














. 


Salem, . 








1917 


Lowell Mutual, . 














. 


Lowell, . 


• 






1917 


Lumber Mutual, . 














. 


Boston, 








1917 


Lynn Manufacturers, 












. 


Lynn, . 








1917 


Lynn Mutual, 












. 


Lynn, . 








1917 


Massachusetts Fire and Marine, 








. 


Boston, , 








1917 


Merchants' and Farmers' Mutual, 








. 


Worcester, 








1917 


Merrimack Mutual, .... 








. 


Andover, 








1918 


Metropolitan Mutual, . 












. 


Boston, . 








1918 


Quincy Mutual, . 












. 


Quincy, 








1917 


South Dan vers Mutual, 












. 


Concord, . 








1917 


Traders' and Mechanics', . 












. 


Lowell, . 








1917 


Worcester Mutual, 












• 


Worcester, 








1917 



In addition to the foregoing, the following examinations of com- 
panies of other classes and examinations required by law annually 
were made during the year : — 



Name of Company. 



Location. 



Date of 
Previous 

Ex- 
amination. 



Boston Casualty, . 

Boston Mutual Life, . 

Massachusetts Mutual Life, 

Methodist Ministers, . 

National Protective, . 

New England Mutual Life, 

Insurance Department, Berkshire County Savings Bank, 

Insurance Department, City Savings Bank, 



Boston, 

Boston, 

Springfield, 

Boston, 

Boston, 

Boston, 

Pittsfielcf, 

Pittsfield, 



1919 
1917 
1917 
1917 
1917 
1917 
1919 
1919 



vm 



REPORT OF THE 



Name of Company. 


Location. 


Date of 
Previous 
Ex- 
amination. 


Insurance Department, People's Savings Bank, 
Insurance Department, Whitman Savings Bank, 

General Insurance Guaranty Fund, 

Commonwealth of Massachusetts Retirement Association, 
Middlesex County Retirement Association, 
Norfolk County Retirement Association, 
Worcester County Retirement Association, 

i 


Brockton, 

State House, 
Cambridge, . 

Knoxville, Tenn., 






1919 
1919 
1919 
1919 
1919 
1919 
1919 



1 Jointly with Tennessee Insurance Department. 



Insurance Legislation in 1921. 

The General Court of 1921 enacted several laws affecting fire and 
marine insurance companies which merit attention. During the war 
it was brought with considerable force to the attention of the gov- 
ernment that ocean marine insurance in this country was in large 
part written by insurance companies of other nations. This not 
only diverted much money from the United States, but made avail- 
able to foreign agencies a vast field of information regarding United 
States trade and commerce, which was in times of peace a formidable 
aid to foreign competitors, and in times of war a most dangerous 
w r eapon in the hands of enemies. In connection with the develop- 
ment of the merchant marine, it was early realized that a similar 
development should take place in domestic ocean marine insurance. 

The United States Shipping Board, acting in connection with a 
congressional committee, presented the National Convention of In- 
surance Commissioners suggestions for a uniform legislative pro- 
gram designed to further such a development. This program was 
carefully considered and in part approved. In accordance therewith 
the Commissioner of Insurance submitted to the General Court 
several bills which received legislative approval, as follows: — 

Chapter 165, An Act relative to the Allowance of Agents' Balances 
on Foreign Business as Assets of Insurance Companies. — This act 
is designed to allow credit in the annual statement for agents' bal- 
ances in foreign countries representing business written within six 
months of the date of accounting, as against three months pre- 
viously allowed. This was deemed necessary because of the greater 
time required to communicate with agents doing business abroad. 

Chapter 172, An Act relative to the Merger of Insurance Companies. 



COMMISSIONER OF INSURANCE. IX 

Chapter 198, An Act relative to Marine Insurance. — This was 
drafted to make clear the authority of marine insurance companies 
to insure all classes of risks on persons or property, including lia- 
bility for injury to either in connection with marine or inland marine 
or transportation insurance on property. 

Chapter 215, An Act authorizing the Organization of Corporations 
to write Insurance in Foreign Countries. — It was urged with some 
force that domestic fire and marine companies are at a disadvantage 
in the foreign field because they are in competition with companies 
operating under far broader charters and empowered to write many 
classes of business which by the laws of most American States fire 
and marine insurance companies are debarred from writing. This 
results in the loss of business partly beoause the American com- 
panies are not in a position to give the same service that the foreign 
companies can afford, and partly because the foreign companies can 
write broader and more comprehensive policies. The United States 
Shipping Board recommended that the States authorize the incorpo- 
ration of insurance companies empowered to write not only the fire 
and marine lines but also the so-called casualty lines. This met 
with much opposition not only from casualty companies but also 
from certain fire and marine companies, although the most vociferous 
antagonism came from the companies transacting fidelity and surety 
business. This part of the Board's recommendation did not meet 
with the approval of the convention, which did, however, agree to 
the principle of this bill, authorizing the incorporation of multiple 
line companies to do business abroad and the holding of the stock 
of such companies by domestic companies. 

Chapter 277, An Act relative to the Incorporation of Reinsurance 
Companies. — This was a part of the recommendation of the Snip- 
ing Board, but was not recommended by the convention. It allows 
the incorporation of multiple line reinsurance companies. 

Certain other recommendations of the Board were reserved for fur- 
ther discussion by the convention. Among these were (1) a method 
for estimating the reserve liability on marine risks; (2) a method of 
taxation based on net profits; and (3) a uniform investment law. 

There can be no question as to the desirability of the result at 
which the Shipping Board aims, namely, the development of Amer- 
ican marine insurance. It is hoped that the several States will give 
general support to the Board's recommendations. 



REPORT OF THE 



Fire Insurance in Massachusetts during 1920. 

The year 1920 has marked a further increase in premium receipts, 
but a more marked and even ominous increase in losses, which were 
the heaviest since 1914. The percentage of losses paid to premiums 
received has in consequence slightly advanced, the percentage being, 
however, still very low, and reducing the five-year average from 
43.59 to 38.39. The increase in losses doubtless reflects the increase 
of the moral hazard consequent upon the deflation of values in 
merchandise. This condition appears to be nation-wide, the con- 
solidated statistics for all the companies indicating a loss on their 
underwriting transactions. 

The following are the Massachusetts figures, year by year, for the 
last ten years: — 

Massachusetts Fire Insurance Business for the Ten Years beginning with 1911. 



Years. 


Premiums 
received. l 


Losses paid. 


Loss Ratio 
(Per Cent). 


1911, 
1912, 
1913, 
1914, 
1915, 
1916, 
1917, 
1918, 
1919, 
1920, 




















$15,032,246 
15,883,936 
16,283,064 
16,788,109 
16,678,636 
20,036,210 
23,518,787 
28,289,003 
30,959,821 
35,914,654 


$7,868,092 
8,706,533 
9,825,176 

23,375,197 
9,838,932 
9,184,161 

10,269,847 

10,737,831 
9,748,998 

11,855,160 


52.34 
54.81 
60.34 
139.24 
58.99 
45.84 
43.67 
37.96 
31.49 
33.01 


Tota 


Is, . 
















• 


$219,384,466 


$111,409,927 


50.78 



1 These amounts have been reduced by the estimated dividends payable on the mutual premiums. 



In the insurance report of last year it was noted that the com- 
mittee appointed by the National Convention of Insurance Commis- 
sioners to investigate the so-called surcharge of 10 per cent had 
recommended that it be continued as a special committee on fire in- 
surance to confer with a committee to be appointed by the National 
Board of Fire Underwriters. This recommendation was adopted, 
and a number of conferences have been held. The questions dis- 
cussed have been upon the fundamentals of rate making, and it is 
expected that the committee will be in a position to report to the 
next session of the convention agreements covering (1) the method 



COMMISSIONER OF INSURANCE. XJ 

of determining underwriting profit or loss, and (2) what constitutes 
a fair underwriting profit. The adoption of uniform standards 
among the several States covering these fundamental points will be 
of great value. No proposition can be more clearly just than that 
a State wherein the experience with fire losses is favorable should 
have this fact reflected in favorable insurance rates. There has been 
a practical difficulty in securing this because of the varying views 
held by the several State departments upon the very questions above 
mentioned. With the adoption of uniform standards a great step 
forward will have been taken towards the more equitable distribu- 
tion of the insurance burden. 

Department Finances. 
During the fiscal year ending Nov. 30, 1920, the Division of In- 
surance collected fees amounting to $152,831.40, of which $48,390 
was produced by brokers' licenses, $62,102 by agents' licenses, 
$29,332.66 by the valuation of life policies, $7,141 by annual state- 
ments, and $5,865.74 from miscellaneous sources. The expenses 
amounted to $113,471.61, leaving a net surplus accruing to the 
Commonwealth of $39,359.79. 

Respectfully submitted, 




Commissioner of Insurance. 



Xll REPORT OF THE 



KEPORTS OF RECEIVERS OF INSURANCE COMPANIES. 



China Mutual Insurance Company. — Arthur D. Hill, 53 State 
Street, Boston, receiver; appointed March 27, 1908. In the last 
report it was stated that the receiver had petitioned the court for 
the distribution of a small balance remaining in his hands. This 
petition has been acted upon favorably by the court, and the De- 
partment is informed that the receiver is preparing to wind up the 
receivership. 

Columbia Mutual Fire Insurance Company. — Grenville S. McFar- 
land, 1 Beacon Street, Boston, receiver; appointed Oct. 17, 1916. 
Since the date of the last report the receiver has presented his final 
report to the Supreme Judicial Court covering his transactions to 
Dec. 15, 1920. This report discloses income of $3,318.24, including 
ledger assets as of Aug. 16, 1919, of $3,029.64; receiver's compensa- 
tion used to pay claims, $205.96; miscellaneous, $82.64; and dis- 
bursements to the same amount, including attorney's fees of $850; 
receiver's compensation, $1,029.27; loss settlement, $100; dividend of 
20 per cent on preferred claim filed late, $25.62; final dividend of 80 
per cent on preferred claims, $1,253.88; miscellaneous, $59.47. 

Cosmopolitan Mutual Fire Insurance Company. — Joseph Michel- 
man, Pemberton Building, Boston, receiver; appointed Nov. 1, 1916. 
The receiver has submitted a report covering his transactions up to 
May 26, 1921. There appears to be no substantial change in the 
company from that disclosed in the last report. The total assets 
consist of a deposit of $93.73 in the hands of the Commissioner of 
Banks. 

Commomvealth Mutual Fire Insurance Company. — Joseph Michel- 
man, Pemberton Building, Boston, receiver; appointed Nov. 29, 
1916. The receiver has rendered an account covering his transac- 
tions up to May 26, 1921. There appears to be no substantial 
change from the condition as disclosed in the last report. The assets 
consist of a deposit of $1,219.85 in the United States Trust Com- 
pany, and against this are outstanding liabilities of $2,690.46. 



COMMISSIONER OF INSURANCE. Xlli 



LEGISLATION OF 1921 RELATING TO FIRE AND 
MARINE INSURANCE. 



Acts of 1921, Chapter 142. 

An Act relative to the charter of the annisquam mutual fire 

insurance company. 

Be it enacted, etc., as follows: 

Section one of chapter seventy-two of the acts of eighteen hundred and 
forty-seven is hereby amended by striking out, in the fifth line, the words 
"for the term of twenty-eight years,", and also by striking out all after the 
word " property", in the seventh line, and inserting in place thereof the 
following: — , wherever located, with all the powers and privileges, and 
.subject to all the liabilities, duties and restrictions, set forth in chapter one 
hundred and seventy-five of the General Laws and in any subsequent laws, 
so far as the same are applicable to this corporation, — so as to read as fol- 
lows: — Section 1. Timothy A. Smith, William L. Langsford, and Michael 
Duley, their associates and successors, are hereby made a corporation, by 
the name of the Annisquam Mutual Fire Insurance Company, in Gloucester, 
in the county of Essex, for the purpose of insuring upon dwelling-houses and 
other buildings, and on personal property, wherever located, with all the powers 
and privileges, and subject to all the liabilities, duties and restrictions, set 
forth in chapter one hundred and seventy-five of the General Laws and in 
any subsequent laws, so far as the same are applicable to this corporation. 
[Approved March 23, 1921. 

Acts of 1921, Chapter 144. 

An Act relative to vouchers for disbursements by domestic in- 
surance COMPANIES. 

Be it enacted, etc., as follows: 

Section thirty-seven of chapter one hundred and seventy-five of the General 
Laws is hereby amended by inserting after the word "more", in the second 
line, the words : — '■ , except disbursements on account of return premiums on 
cancelled policies, — so as to read as follows: — Section 87. No domestic 
company shall make any disbursements of twenty-five dollars or more, except 
disbursements on account of return premiums on cancelled policies, unless the 
same be evidenced by a voucher signed by or on behalf of the person receiving 
the money and correctly describing the consideration for the payment; and 
if the same be for services and disbursements, setting forth the services rendered 



XIV REPORT OF THE 

and an itemized statement of the disbursements made; and if it be in con- 
nection with any matter pending before any legislature or public body, or 
before any department or officer of any government, correctly describing in 
addition the nature of the matter and of the interest of such company therein; 
or if such a voucher cannot be obtained, by an affidavit stating the reason 
for not obtaining such voucher, and setting forth the particulars above men- 
tioned. [Approved March 23, 1921. 



Acts of 1921, Chapter 147. 

An Act to revive the charter of the associated merchants mutual 

insurance company. 

Whereas, The deferred operation of this act would cause great inconvenience 
and expense, therefore it is hereby declared to be an emergency law, necessary 
for the immediate preservation of the public convenience. 

Be it enacted, etc., as follows: 

The Associated Merchants Mutual Insurance Company, a corporation 
whose charter expired August ninth, nineteen hundred and twenty, by virtue 
of section thirty-one of chapter five hundred and seventy-six of the acts of 
nineteen hundred and seven, is hereby revived with the same powers, duties 
and obligations as if the period mentioned in said section had not expired; 
provided that its corporate powers shall cease unless it commences to issue 
policies within one year after the date of the passage of this act. [Approved 
March 25, 1921. 

Acts of 1921, Chapter 160. 

An Act to provide that mutual fire insurance companies may 
further classify the kinds of business written for the purpose 
of apportioning the savings or so-called dividends among the 
policy holders. 

Be it enacted, etc., as follows: 

Section eighty of chapter one hundred and seventy-five of the General Laws 
is hereby amended by striking out the first paragraph and inserting in place 
thereof the following: — From time to time the directors of a mutual fire com- 
pany may by vote fix and determine the percentages of dividend or expiration 
return of premium to be paid on expiring policies, which may in their discre- 
tion, and with the written approval of the commissioner, be different for policies 
insuring farm risks, fireproof risks, including risks equipped with automatic 
sprinkler or fire alarm systems, manufacturing or storage risks and, if the com- 
pany is authorized to transact the kinds of business specified in the second 
clause of section forty-seven, for policies insuring automobile, inland marine 
and ocean marine risks, from those insuring other classes of risks of the same 
term; but policies insuring risks in this commonwealth in the same classifica- 
tion shall have an equal rate of dividend or return of premium. If an assess- 



COMMISSIONER OF INSURANCE. XV 

ment is levied under section eighty-three the rate thereof may be different for 
policies insuring farm risks, fireproof risks, including risks equipped with auto- 
matic sprinkler or fire alarm systems, automobile, inland marine, ocean marine, 
manufacturing or storage risks from that on policies insuring other classes of 
risks for the same term; but policies insuring risks in the same class shall have 
the same rate of assessment. Every policy placed in any of the aforesaid classes 
of risks shall, when issued, bear an endorsement to the effect that it is so classified. 
[Approved March 25, 1921. 

Acts of 1921, Chapter 165. 

An Act relative to the allowance of agents' balances on foreign 
business as assets of insurance companies. 

Be it enacted, etc., as follows: 

Section 1. Section one of chapter one hundred and seventy-five of the 
General Laws is hereby amended by inserting after the word "due", in the 
forty-third line, the words : — , or in the case of business originating outside 
the North American continent, Hawaii, Porto Rico, Cuba and the West Indies 
not more than six months due, — so that the paragraph included within lines 
thirty-eight to forty-six, inclusive, will read as follows : — Net assets, the funds 
of a company available for the payment of its obligations in the commonwealth, 
including, in the case of a mutual fire company, its deposit notes or other con- 
tingent funds, and, in the case of a mutual marine company, its subscription 
fund and premium notes absolutely due, and also including uncollected and 
deferred premiums not more than three months due, or in the case of business 
originating outside the North American continent, Hawaii, Porto Rico, Cuba 
and the West Indies not more than six months due, on policies actually in 
force, after deducting from such funds all unpaid losses and claims, and claims 
for losses, and all other debts and liabilities inclusive of net value of policies 
and exclusive of capital. 

Section 2. Section twenty-five of said chapter one hundred and seventy- 
five is hereby amended by striking out item thirty-two (b) in form A thereof 
and inserting in place thereof the following: — (6) agents' balances represent- 
ing business written within the North American continent, Hawaii, Porto 
Rico, Cuba and the West Indies, prior to October first and agents' balances 
representing business written elsewhere prior to July first. [Approved March 
25,1921. 

Acts of 1921, Chapter 166. 

An Act relative to the collection of certain charges and fees by 

the commissioner of insurance. 

Be it enacted, etc., as follows: 

Section fourteen of chapter one hundred and seventy-five of the General 
Laws is hereby amended by striking out, in the twenty-third line, the word 
"twelve", and inserting in place thereof the words: — twenty cents a page 
and for copies of tabulations forty, — so as to read as follows: — Section 14. 



XVI REPORT OF THE 

He shall collect and pay to the commonwealth charges and fees as follows: 
for valuation of life policies of a domestic company, two and one half mills 
for each thousand dollars of insurance; for each examination prior to granting 
a license or a certificate of authority to issue policies of insurance or annuity 
or pure endowment contracts as provided in sections four and thirty-two, 
thirty dollars; for filing copy of charter or deed of settlement of each foreign 
company under section one hundred and fifty-one, thirty dollars; and for 
filing financial statement with application for admission under section one 
hundred and fifty-one and for each annual statement under section twenty-five, 
twenty dollars; for each license or renewal thereof to a special insurance broker 
under section one hundred and sixty-eight, twenty dollars; for each license or 
renewal thereof to an insurance broker under section one hundred and sixty- 
six, ten dollars; for each license or renewal thereof to an insurance agent of a 
foreign company under section one hundred and sixty-three, two dollars; for 
each license or renewal thereof to an adjuster of fire losses under section one 
hundred and seventy-two, two dollars; for each certificate of the valuation of 
the policies of any life company and for each certificate of the examination, 
condition or qualification of a company, two dollars; for each certificate issued 
under section sixteen, two dollars; for each service of lawful process upon 
him as attorney, under section one hundred and fifty-one, two dollars; for 
each copy of any paper on file in his office, twenty cents a page and for copies 
of tabulations forty cents a page and one dollar for certifying the same; and 
all other fees and charges due and payable to the commonwealth for any official 
act or service of the commissioner. [Approved March 25, 1921. 



Acts of 1921, Chapter 172. 
An Act relative to the merger of insurance companies. 

Be it enacted, etc., as follows: 

Chapter one hundred and seventy-five of the General Laws is hereby 
amended by inserting after section nineteen the following new section to be 
numbered nineteen A: — Section 19 A. Two or more domestic companies 
may merge or consolidate into one corporation, the title of which shall be ap- 
proved by the commissioner. With the approval of the commissioner a do- 
mestic company may also be merged or consolidated with any company or 
companies organized under the law of any state of the United States into one 
corporation. In either case the companies may enter into and make an agree- 
ment for such merger or consolidation, prescribing its terms and conditions, 
the amount of its capital, if any, which shall not be a larger amount than the 
aggregate amount of capital of the merged or consolidated companies, and 
the number of shares into which it is to be divided. Such agreement shall be 
assented to by a vote of the majority of the board of directors of each company 
and approved by the votes of the stockholders, if any, owning at least two 
thirds of the stock of each company at a meeting called for the purpose, notice 
of which meeting shall be given in accordance with law, and also published at 
least once a week for three successive weeks in some newspaper printed in the 



COMMISSIONER OF INSURANCE. XV11 

commonwealth, and if any of the merging or consolidating companies are 
domiciled outside of the commonwealth, at least once a week for three successive 
weeks in some newspaper printed in the town where such company has its 
principal office, or if there are no stockholders, by the votes of at least two 
thirds of the policy holders present or represented at a meeting called for the 
purpose, notice of which meeting shall be given as hereinbefore provided. No 
such agreement shall be valid until approved in writing by the commissioner. 
The new company may require the return of the original certificates of stock 
held by each stockholder in each of the companies to be merged or consolidated 
arid issue in lieu thereof new certificates for such number of shares of its own 
stock as the stockholder may be entitled to receive. Upon such merger or con- 
solidation all rights and properties of the several companies shall accrue to 
and become the property of the new company which shall succeed to all the 
obligations and liabilities of the merged or consolidated companies in the same 
manner as if they had been incurred or contracted by it. The stockholders and 
policy holders of the merged or consolidated companies shall continue to be 
subject to all the liabilities, claims and demands existing against them at or 
before such merger or consolidation. No action or proceeding pending at the 
time of the merger or consolidation in which any or all of the companies merged 
or consolidated may be a party shall abate or be discontinued by reason of the 
merger or consolidation, but the same may be prosecuted to final judgment in 
the same manner as if the merger or consolidation had not taken place, or the 
new company may be substituted in place of any company so merged or con- 
solidated by order of the court in which the action or proceeding may be pend- 
ing. Nothing in this section shall authorize the merger or consolidation of 
stock companies with mutual companies. [Approved March 25, 1921. 



Acts of 1921, Chapter 190. 

An Act requiring domestic insurance companies to comply with cer- 
tain PREREQUISITES BEFORE ISSUING POLICIES. 

Be it enacted, etc., as follows: 

Chapter one hundred and seventy-five of the General Laws is hereby 
amended by striking out section thirty-two and inserting in place thereof the 
following: — Section 32. No domestic company shall issue policies of in- 
surance or annuity or pure endowment contracts until, upon examination by 
the commissioner, his deputy or examiner, it is found to have complied with 
the laws of the commonwealth, adopted a proper system of accounting, em- 
ployed a competent accountant and a competent and experienced underwriter, 
and to be without liabilities except such organization expenses as the com- 
missioner shall certify as reasonable, and except, if a stock company or a mutual 
company with a guaranty capital, its liabilities to stockholders for the amount 
paid in for shares of stock, nor until it has obtained from the commissioner a 
certificate stating that it has complied with the foregoing conditions and all 
other laws, and authorizing it to issue such policies or contracts. [Approved 
March 30, 1921. 



XV1H REPORT OF THE 



Acts of 1921, Chapter 198. 
An Act relative to marine insurance. 

Be it enacted, etc., as follows: 

Section forty-seven of chapter one hundred and seventy-five of the General 
Laws is hereby amended by inserting after the word "transportation", in 
the thirteenth line, the words : — ; also, in connection with marine or inland 
marine or transportation insurance on property, to insure against any ri.-k 
whether to person or to property, including liability for loss or damage to either, 
arising out of the construction, repair, operation, maintenance or use of the 
subject matter of such primary insurance, — and by adding after the word 
"liable", in the twenty-first line, the words: — ; but not including insurance 
against loss or damage by reason of bodily injury or death by accident to any 
person resulting from the maintenance and use of motor vehicles, — so that 
the second clause will read as follows : — Second, To insure upon the stock or 
mutual plan vessels, freights, goods, money, effects, and money lent on bot- 
tomry or respondentia, against the perils of the sea and other perils usually 
insured against by marine insurance; risks of inland navigation and trans- 
portation; also, in connection with marine or inland marine or transportation 
insurance on property, to insure against any risk whether to person or to 
property, including liability for loss or damage to either, arising out of the con- 
struction, repair, operation, maintenance or use of the subject matter of such 
primary insurance; also to insure against loss or damage to and loss of use of 
motor vehicles, their fittings and contents, whether such vehicles are being 
operated or not, and wherever the same may be, resulting from accident, collision, 
and any of the perils usually insured against by marine insurance, or from risks 
of inland navigation and transportation; and against loss or damage caused 
by teams, automobiles or other vehicles, except rolling stock of railways, to the 
property of another, Tor which loss or damage any person is liable; but not 
including insurance against loss or damage by reason of bodily injury or death 
by accident to any person resulting from the maintenance and use of motor 
vehicles. [Approved March 80, 1921. 



Acts of 1921, Chapter 215. 

An Act authorizing the organization of corporations to write in- 
surance IN FOREIGN COUNTRIES. 

Be it enacted, etc., as follows: 

Section 1. Section forty-seven of chapter one hundred and seventy-five 
of the General Laws is hereby amended by adding at the end thereof the follow- 
ing new clause: — Fourteenth, To transact outside of the territorial limits of the 
United States any and all forms of insurance. 

Section 2. Section forty-eight of said chapter one hundred and seventy- 
five is hereby amended by inserting after the paragraph included within lines 



COMMISSIONER OF INSURANCE. XIX 

nineteen to twenty-two, inclusive, the following new paragraph : — Under 
the fourteenth clause not less than five hundred thousand dollars. 

Section 3. Section sixty-three of said chapter one hundred and seventy- 
five is hereby amended by inserting after clause seven the following new clause : 
— 7(a). In the capital stock of companies organized under the fourteenth 
clause of section forty-seven; provided that the above specified proportionate 
part of the reserve of any domestic stock or mutual life company shall not be 
invested in such capital stock. [Approved April 1, 1921. 



Acts of 1921, Chapter 277. 
An Act relative to the incorporation of reinsurance companies. 

Be it enacted, etc., as follows: 

Section 1. Chapter one hundred and seventy-five of the General Laws 
is hereby amended by inserting, after section two the following new section: — 
Section 2 A. Contracts of reinsurance shall be deemed contracts of insurance 
as defined in section two, and authority to make contracts of insurance shall 
include authority to make contracts of reinsurance covering the same classes 
of risks, but the hazards under such contracts shall be deemed distinct in nature 
from the hazard originally insured. No provision of law relative to the form 
of insurance policies shall apply to contracts of reinsurance unless made specifi- 
cally applicable thereto. 

Section 2. Section twenty of said chapter one hundred and seventy-five 
is hereby amended by inserting after the word "reinsured", in the ninth line, 
the words : — , or with a company incorporated or formed to reinsure and 
authorized to reinsure in the commonwealth risks of the same kinds as those 
reinsured, — by inserting, after the word " commonwealth", in the seventeenth 
line, the words : — , or (c) with a company incorporated or formed to reinsure 
and authorized to reinsure in the commonwealth, — by striking out, in the 
thirty-fifth and thirty-sixth lines, the words " Reinsurance of risks shall not be 
held to be within the provisions of law requiring the use of standard forms of 
policies", and also by striking out, in the forty-second line, the word "of", 
where it occurs the second time, and inserting in place thereof the word : — 
or, — so as to read as follows: — Section 20. Any company, except as herein 
provided, may reinsure in any other company any part or all of any risks as- 
sumed by it, and shall file with the annual statement required by section twenty- 
five and at such other times as the commissioner may require, schedules of all 
reinsurance. 

Such reinsurance shall not reduce the taxes to be paid by the ceding com- 
pany, nor, if a life company, shall it reduce the reserve to be charged to it, 
unless effected with a company authorized to issue policies in the commonwealth 
covering risks of the same kinds as those reinsured, or with a company incor- 
porated or formed to reinsure and authorized to reinsure in the commonwealth 
risks of the same kinds as those reinsured. Such reinsurance shall not reduce 
the reserve or other liability to be charged to the ceding company, other than 
life, unless (a) it is effected with a company authorfzed in the commonwealth 



XX REPORT OF THE 

as aforesaid, or (b) with a company similarly authorized in another state or 
territory of the United States conforming to the same standard of solvency 
and fulfilling the same statutory or departmental regulations which would be 
required of such company if, at the time such reinsurance is effected, it were 
authorized as aforesaid in the commonwealth, or (c) with a company incor- 
porated or formed to reinsure and authorized to reinsure in the commonwealth; 
provided, that any contract of reinsurance, other than life, made by any do- 
mestic company or by any company incorporated in a foreign country and having 
its principal office in the commonwealth, ceding more than seventy-five per cent 
of its total outstanding risks, shall be subject to the written approval of the 
commissioner; and provided, further, that no domestic life company shall 
reinsure its risks without the written permission of the commissioner, but may 
reinsure not exceeding one half of an individual risk. 

When reinsurance is so effected the ceding company, other than a life com- 
pany, shall thereafter be charged on the gross premium basis with an unearned 
premium liability, and a life company shall be charged thereafter with a reserve 
liability, both said unearned premium and reserve liability representing the 
proportion of the obligation retained by it, and the company with which the 
reinsurance is effected shall be charged thereafter in like manner with the pro- 
portion of the obligation assumed by it. Both the companies shall together 
carry the same unearned premium liability or reserve which the ceding company 
would have carried had it not reinsured the risk. 

A company ceding reinsurance to a mutual company shall not, unless the 
contract of reinsurance so provides, become thereby a member of the company 
accepting such reinsurance or be entitled to any dividend or expiration return 
of premium or be subject to liability to assessment. 

This section shall not permit a ceding company, other than life, to receive 
through the cession of the whole or any of its risks any advantage in respect 
to its unearned premium ^reserve, or, if a life company, in respect to the net 
value of its policies involving life contingencies that would reduce the same 
below the actual amount thereof. 

A company and any officer or agent thereof effecting or acting in the negotia- 
tion of reinsurance in violation of this section shall severally be punished by a 
fine of five hundred dollars. 

Section 3. Section forty-seven of said chapter one hundred and seventy- 
five, as amended by section one of chapter two hundred and fifteen of the acts 
of nineteen hundred and twenty-one, is hereby further amended by adding 
at the end thereof the following new clause: — Fifteenth, to reinsure risks of 
every kind or description undertaken by other companies. 

Section 4. Section forty-eight of said chapter one hundred and seventy- 
five, as amended by section two of said chapter two hundred and fifteen, is 
hereby further amended by inserting before the last paragraph of said section 
forty-eight the following new paragraph : — Under the fifteenth clause, not less 
than five hundred thousand dollars. 

Section 5. The second paragraph of section forty-nine of said chapter 
one hundred and seventy-five is hereby amended by adding at the end thereof 
the words : — , or, if organized under the fifteenth clause of section forty-seven, 



COMMISSIONER OF INSURANCE. XXI 

the word " reinsurance", — so as to read as follows: — The name of the cor- 
poration shall be subject to approval by the commissioner, and shall contain 
the word " insurance" or, if organized on the mutual plan, the words, " mutual 
insurance", or, if organized under the fifteenth clause of section forty-seven, 
the word " reinsurance". [Approved April 12, 1921. 



Acts of 1921, Chapter 372. 

An Act permitting certain foreign mutual fire insurance companies 
to continue to issue non-assessable policies. 

Whereas, The deferred operation of this act would in part defeat its purpose 
and result in substantial public inconvenience and would be contrary to the 
public interest in that certain foreign mutual fire insurance companies would 
thereby be obliged to discontinue transacting business, owing to the fact that 
their licenses expire on June thirtieth, nineteen hundred and twenty-one, 
therefore this act is hereby declared to be an emergency law, necessary for the 
immediate preservation of the public convenience. 

Be it enacted, etc., as follows: 

Section one hundred and fifty of chapter one hundred and seventy-five of 
the General Laws is hereby amended by striking out, in the seventh line, the 
word "but", and inserting in place thereof the words: — provided, that, — 
and also by adding after the word "companies", in the ninth line, the words: — 
and provided, further, that the provisions of section eighty-one relative to the 
contingent mutual liability of members shall not apply to any foreign mutual 
fire company which had been admitted to transact business in the common- 
wealth prior to January first, nineteen hundred and twenty-one and was then 
actually transacting business therein without complying with said provisions, 
— so as to read as follows: — Section 150. Foreign companies, upon com- 
plying with the conditions herein set forth applicable to such companies, may 
be admitted to transact in the commonwealth, as provided in section one hun- 
dred and fifty-seven, any kinds of business authorized by this chapter, subject 
to all general laws now or hereafter in force relative to insurance companies, 
and subject to all laws applicable to the transaction of such business by foreign 
companies and their agents; provided, that no provision of law which by its 
terms applies specifically to domestic life companies shall thereby become ap- 
plicable to foreign life companies; and provided, further, that the provisions 
of section eighty-one relative to the contingent mutual liability of members 
shall not apply to any foreign mutual fire company which had been admitted 
to transact business in the commonwealth prior to January first, nineteen 
hundred and twenty-one and was then actually transacting business therein 
without complying with said provisions. 

The license of any such foreign company shall expire on June thirtieth of 
each year, unless sooner revoked or suspended as provided in section five, but 
may be renewed by the commissioner on or before that date on written ap- 
plication of the company. [Approved May 9, 1921. 



XX11 REPORT OF THE COMMISSIONER OF INSURANCE. 



Resolves of 1921, Chapter 50. 

Resolve providing for an investigation relative to certain matters 

of insurance. 

Resolved, That an unpaid commission is hereby established to consist of 
the commissioner of insurance and two other persons to be appointed by the 
governor, with the advice and consent of the council, to investigate the laws 
relative to the investments of insurance companies; the expediency and neces- 
sity of establishing a minimum standard of net valuation on life insurance 
policies, and especiahV the subject matter of current house document number 
three hundred and fifty-three; the expediency and necessity of further legis- 
lation relative to the insuring of automobiles, especially the subject matter of 
current house document number one hundred and thirty-eight; the expediency 
and necessity of requiring the owners of motor vehicles to carry liability in- 
surance, especially the subject matter of current house documents number 
ten hundred and thirty-two and fifteen hundred and sixty-seven; and the 
expediency and necessity of further legislation relating to mutual insurance 
companies, especially the subject matter of current house document number 
seven hundred and twenty-five. The commission may employ clerical and 
other assistance and incur expenses not to exceed twenty-five hundred dollars, 
and shall report its findings and recommendations to the next annual session 
of the general court on or before the second Wednesday in January, with drafts 
of such new legislation as it may deem expedient. [Approved May 26, 1921. 



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Michigan Fire and Marine, 
Michigan Millers, . . . 
Millers National, 
Milwaukee Mechanics, 
Minneapolis Fire and Marine, 


National Fire, . 

National-Ben Franklin, 

National Liberty, 

National Trades, 

National Union, 






Continued. 
Independence, . 
Ins. Co. of North America, 
Ins. Co. of State of Pa., 
International, . 
Inter-Ocean, 


Inter-State, 
Iowa National, 
Liberty Fire, 
Marquette National, 
Maryland Motor Car, 


Mechanics, 

Mechanics' and Traders', 
Mercantile, 

Merchants Fire (Colo.), 
Merchants Fire (N. Y.), 


Newark Fire, 

New Brunswick Fire, 
New Hampshire, 
New Jersey, 

Niagara, . 



COMMISSIONER OF INSURANCE. 



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CXXX111 



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CXXX1V 



REPORT OF THE 



Table 8. — Statement of the Receipts and Expenditures of the Department of 

Banking and Insurance, Division of Insurance, for the Fiscal Year ending 

Nov. 80, 1920. 

Receipts. 



Compensation for valuation of life insurance policies, 
License fees, filing statements, certificates, etc., . 

Total, 



$29,332 66 

. 123,498 74 

-152,831 40 



Expenditures. 



Commissioner. 






Clarence W. Hobbs, 


■ 


$5,500 00 


Deputy Commissioners. 






Arthur E. Linnell, 


$3,833 34 




William 0. Richardson, 


3,250 00 




Edmund S. Cogswell, 


387 10 




Hosea Harden, 


2,698 39 


10,168 S3 






Chief Examiner. 






E. Maynard Dominick, 




3,333 33 


Actuary. 






Roy A. Wheeler, 


$1 ,000 00 




Arthur B. Lines, 


2,000 00 


3,000 00 






Assistant Actuary. 






Arthur B. Lines, 


S666 67 




William M. Corcoran, 




833 33 


1,500 00 






.4 dditional Exa m inei 


s, Clerks, Stenographers. 






Katherine M. O'Learv, 




•82,630 01 




Harold J. Taylor, 














2,460 00 




Thomas H. O'Connell, 














1.770 00 




I. Lillian Baker, 














1,620 00 




Mary E. Burrill, 














1.620 00 




Frances M. Robbins, 














1,620 00 




Grace M. Hall, 














1,590 00 




Lois M. Draper, 














1.500 00 




Louise A. McGowan, 














1.500 00 




Wilhelmina Mullan, 














1.500 00 




Mary F. Yeaton, 














1.500 00 




Flora E. Caverlv, 














1,380 00 




Minnie S. Chapin, . 














1,380 00 




Amounts carried foru 


ard, 












$22,070 01 


•823.502 16 



COMMISSIONER OF INSURANCE. 



CXXXV 



Table 8. — Statement of Receipts, etc. — Continued. 



Amounts brought forward, 

Winifred E. While, . 
Elizabeth Hinckley, 
Margaret J. Brandon, 
Flora M. Corwin, 
Isabel A. Deady, 
Mary E. Duguo, 
Sarah E. Gould, 
Florence E. Gowell, 
Helen I. Gray, . 
Mary A. Hosmer, 
Gertrude E. Mackin, 
Thomas W. McCormack, 
Mary A. McKenzie, 
Gertrude E. Merrill, 
Grace L. Moore, 
Agnes F. Noyes, 
Effie'A. Perkins, 
Alice M. Vincent, 
Letitia H. Young, 
Lucy B. Carlton, 
Alice U. McNichols, 
Alice M. Hession, 
Peter J. McGarry, 
Margaret M. Cohan, 
Alice C. Collins, 
Cora E. Cud worth, 
Olga Fostiak, 
Marie T. Conners, 
Mary H. Shea, . 
Evelyn M. Emery, 
Mary E. Murray, 
Harriet 0. Boone, 
Marion F. Carey, 
Dorothy M. O'Donoghue 
Helen M. Crowley, 
Lillian R. Luther, 
Samuel Weinstein, 
Mary E. Borges, 
Kathryn M. Scannell, 
Susan T. Callahan, 
Emily N. Osgood, 
Mary G. Faulkner, 
George W. Herman, Jr. 
Martha Seiniger, 
Julia A. Perley, 
Others and extra assistance, 



Amount carried forward, 



$22,070 01 



$23,502 16 



,260 00 
,230 00 
,170 00 
,170 00 
.170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,170 00 
,080 00 
,080 00 
,050 00 
930 00 
900 00 
900 00 
900 00 
900 00 
875 00 
870 00 
840 00 
825 00 
805 00 
775 48 
773 23 
770 97 
750 00 
749 50 
745 65 
663 79 
547 50 
515 56 
512 90 
346 45 
342 00 
312 26 
1,312 73 



65,523 03 
$89,025 19 



CXXXV1 



REPORT OF THE COMMISSIONER OF INSURANT E. 



Table 8. — Statement of Receipts, etc. — Concluded. 



Amount brought forward. 



Contingent Expenses. 
Marvyn Scudder, appraisals, etc., 
Postage, express, telephone and telegraph, . 
Printing other than reports, .... 
Examinations, sundry expenses, . 
Inspections on account of workmen's compensation, 
Meetings of insurance commissioners and committee 

conferences, 

Rent, Pemberton Building, .... 

Supplies, 

Miscellaneous expenses, 



Printing Report. 

2,000 copies Part I 

2,900 copies Part II, . 

800 copies Tables and Abstr; 
1,000 copies Text and Tables, 



Fees collected and turned into treasury, 
Surplus accrued to the Commonwealth, 



$1,000 00 

1,114 71 

5,984 69 

4,494 15 

54 89 

1,448 98 
485 00 
503 54 

1,749 29 



S3,413 48 

3,911 28 

119 41 

167 00 



•025 19 



16,835 25 



7,611 17 

8113,471 61 
152,831 40 

839,359 79 



FIRE AND MARINE INSURANCE COMPANIES 



Abstracts op Annual Statements for the Year ending 
December 31, 1920 



ABINGTOX MUTUAL FIRE INSURANCE CO. 



MASSACHUSETTS MUTUAL FIRE, MARINE AND FIRE- 
MARINE INSURANCE COMPANIES. 



ABINGTON MUTUAL FIRE IXSURANXE COMPAXY, ABIXGTOX. 

Incorporated May 30, 1856. Commenced business June 15, 1857. 
ISAAC C. HOWLAND, President. ALFRED H. NASH, Secretary. 

Income. 

Net fire premiums, $88,080 59 

Gross interest on mortgages, S360.44; stocks and bonds, S 10,2 12.86 

bank deposits, SI, 100.87, 11,674 17 

Gross profit on sale or maturity of bonds, .... 20 00 

Gross increase in book value of bonds, ..... 2,383 85 

Dividend, Old Boston National Bank in liquidation, 25 00 

Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationer}', 
Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, ..... 

Balance, ...... 



S102.1S3 61 


270,914 54 


S373,09S 


15 


-•3.996 85 


353 


53 


13,089 


12 


20 


23 


638 


35 


9.734 34 


475 


57 


1.225 


69 




10 


3,313 


09 


563 


18 


709 


80 


414 


34 


19 


34 


991 


36 


2S.214 30 


1,303 


75 


95 00 


61 


15 


SS9,105 09 



82S3,993 06 



ABINGTON MUTUAL FIRE INSURANCE CO. 



Ledger Assets. 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), . 

Cash in office, . . . . 

Deposits in trust companies and banks on interest, 

Agents' balances, ...... 

Total ledger assets, .... 



Non-Ledger Assets. 
Interest accrued on mortgages, $129.38; bonds, $2,989.87, . 



$6,344 00 

244,600 00 

432 17 

26,507 48 

6,109 41 

$283,993 06 



3,119 25 



Gross assets, ...... 


. 


$287,112 31 


Assets not admitted. 






Agents' balances over three months due, . 
Book value of stocks and bonds over market 


$54 27 




value, ....... 


25,937 80 


25,992 07 


Admitted assets, ..... 


. 


$261,120 24 


Liabilities. 






Unpaid losses, ...... 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Salaries, expenses and accounts due or accrued, 


. 


$311 22 

117,673 27 

960 76 

325 00 


Federal, state and other taxes due or accrued, . 


. 


775 00 


Total, 

Surplus to policy holders, .... 


$120,045 25 
141,074 99 


Total liabilities, including surplus, 


. 


$261,120 24 


Risks and Premiums. 






Fire risks : Risks. 


Cash Prem's. 


Conting't Prem's. 


In force Dec. 31, 1919, . . $13,251,290 00 
Written during the year, . 6,066,321 00 


$222,914 24 
96,562 92 


$222,914 24 
96,562 92 


Total, .... $19,317,611 00 
Expired and terminated, . 5,404,248 00 


$319,477 16 
83,328 16 


$319,477 16 
83,328 16 


In force at end of year, . . $13,913,363 00 
Deduct reinsurance in recog- 


$236,149 00 


$236,149 00 


nized companies, . . 638,730 00 


9,617 52 


- 



Net amount in force, 



$13,274,633 00 $226,531 48 



Miscellaneous. 

Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company-} 
Dividends to policy holders during 1920: 20, 30, 40, 50 and 60 per 
cent. 



$1,847,004 28 
689,448 34 
560,396 64 



ABINGTON MUTUAL FIRE INSURANCE CO. 



Schedule A. Stocks and Bonds 

Bank Stocks. 

28 shares Abington National, .... 

5 " Whitman National, .... 



OWNED BY THE 
Book Value. 
$2,800 00 
500 00 



Company. 

Rate. Market Value. 

110 $3,080 00 

115 575 00 



1927, 



Government Bonds 
States 4is, 1947, op. 1932, 
States 4is, 1942, op 
States 4Js, 1928, . 
States 4Js, 1928, . 
States 4Js, 1938, op 
States 4is, 1938, op 



1933, 
1933, 



United 
United 
United 
United 
United 
United 
United States 4fs, 1923, op. 1922. 

State and Municipal Bonds 
Abington, Mass., 4s, 1923, 
Abington, Mass., 4s, 1933, 
Abington, Mass., 4s, 1936, 
Albany, N. Y., 4Js, 1955, . 
Boston, Mass., 3£s, 1923, . 
Brockton, Mass., 3§s, 1932, 
Cleveland, Ohio, 6s, 1928, 
Detroit, Mich., 4s, 1944, . 
Fort Worth, Tex., 4|s, 1949, 
Los Angeles, Cal., 4|s, 1933, 
Massachusetts 3s, 1929, . 
Massachusetts 3s, 1930, 
Massachusetts 3s, 1941, 
Medford, Mass., 4s, 1923, 
New Haven, Conn., 4s, 1935, 
Newton, Mass., 3£s, 1931, 
Omaha, Neb., water works 4§s, 1941, 
Providence, R. I., 4s, 1926, 
Providence, R. I., 4s, 1945, 
Salt Lake City, Utah, 5s, 1941, 
Uxbridge, Mass., 4s, 1932-34, 
Uxbridge, Mass., 4s, 1935, 
Zanesville, O., 4|s, 1928, . 

Railroad Bonds. 
Boston & Albany imp. 5s, 1938, 
Boston & Maine 4s, 1926, 
Boston & Maine 6s, 1930, 
Boston Elevated 4§s, 194±, 
Boston Elevated 5s, 1942, 
Boston & Worcester Street 1st 4§s, 1923, 
Chicago Jet. & Union Stk. Yds. 4s, 1940, 
Chicago & Northwestern 4s, 1926, 
Fitchburg 4s, 1925, .... 
Illinois Cent. (Louis. Div. & Term.) 1st 3|s, 1953, 
Illinois Cent. (Litchfield Div.) 3s, 1951, 
Lynn & Boston 1st 5s, 1924, 
Maine Central 1st and ref. 4^s, 1935, 
New York Central & Hudson River 4s, 1934, 
New York Central & Hudson River 3|s, 1997, 
New York, New Haven & Hartford 3§s, 1954, 
Old Colony 3£s, 1932, 
Pere Marquette 1st 5s, 1956, 
Terminal Association of St. Louis 4§s, 1939, 
Trenton Passenger 6s, 1921, 
West End Street 5s, 1944, 
Worcester Consolidated Street 5s, 1927, 

Miscellaneous Bonds. 
American Tel. & Tel. 4s, 1929, . 
American Tel. & Tel. 5s, 1946, . 
Bell Telephone of Penn. 7s, 1945, 
Elec. L. & P. Co. of Abing. and Rock. 7s, 1923, 
General Electric deb. 5s, 1952, 



2,000 
3,000 
10,000 
15,000 
10,000 
8,100 
10,000 



00 
00 
00 
00 
00 
00 
00 



1,000 00 
3,000 00 
1,000 00 
5,000 00 
4,000 00 
5,000 00 
5,000 00 
2,000 00 
5,000 00 
5,000 00 
3,000 00 
1,000 00 
1,000 00 
3,000 00 
1,000 00 
3,000 00 
6,000 00 
2,000 00 
3,000 00 
5,000 00 
7,500 00 
2,500 00 
5,000 00 

5,000 00 
8,000 00 
4,000 00 
2,000 00 
6,000 00 
1,000 00 
3,000 00 
5,000 00 
3,000 00 
3,000 00 
2,000 00 
2,000 00 
5,000 00 
1,000 00 
2,000 00 
3,000 00 
4,000 00 
1,200 00 
2,000 00 
2,000 00 
5,000 00 
4,000 00 

15,000 00 
5,000 00 
5,000 00 
3,000 00 
3,000 00 

§244,600 00 



100 
100 
100 

94 4- 
100 

85 + 
100 

99 

94 

93 
100 

97 

89 
107 

91 

92 

95 

89 

88 

79 

98 

93 

90 

95 

96 

89 
102 

93 

92 

98 

92 
78 
75 
68 
76 
64 
71 
88 
86 
70 
62 
73 
86 
83 
72 
50 
79 
86 
90 
100 
75 
60 

81 

86 
101 
100 

94 



2,000 00 
3,000 00 

10,000 00 

14,lv 

10,000 00 
6,917 40 

10,000 00 

990 00 
2,820 00 

930 00 
5,000 00 
3,880 00 
4.450 00 
5,350 00 
1,820 00 
4,600 00 
4.750 00 
2,670 00 

880 00 

790 00 
2.940 00 

930 00 
-'.700 00 
5,700 00 
1,920 00 
2.670 00 
5,100 00 
6,975 00 
2,300 00 
4,900 00 

4,600 00 
0.240 00 
3,000 00 
1,360 00 
4,560 00 

640 00 
2,130 
4,400 
2,580 
2.100 
1.240 
1.460 
4,300 00 

830 00 
1.440 00 
1.500 00 
3,160 00 
1,032 00 
1,800 00 
2.000 00 
3.750 00 
2.400 00 

12.150 00 
4.300 00 
5,050 00 
3,000 00 
2.>20 00 

S21S.662 20 



00 
00 
00 
00 
00 
00 



ALLIED AMERICAN MUTUAL AUTOMOBILE INSURANCE CO. 



ALLIED AMERICAN MUTUAL AUTOMOBILE INSURANCE COM- 
PANY, BOSTON. 

Incorporated Nov. 9, 1920. Commenced business Nov. 9, 1920. 

Guaranty Capital, $100,000. 

C. E. HODGES, President. H. C. KNEPPENBERG, Jr., Secretary. 

Office, 245 State Street. 

Income. 
Net marine premiums, ..... 
Gross interest on bank deposits, . . • 

, Total income, ..... 

Guaranty capital paid in, ... . 

Total, 

Disbursements. 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Printing and stationery, .... 

Interest on bonds purchased, .... 

Organization expenses, ..... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Deposits in trust companies and banks on interest, 

Premiums in course of collection, 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on bonds, .... 
Market value of bonds over book value, . 

Gross assets, ...... 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, ._ 

Guaranty capital, . . 

Surplus over all liabilities, .... 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



• 


$4,416 74 
93 01 


$4,509 75 
100,000 00 


. $104,509 75 




$511 00 
20 00 
12 35 
82 00 
56 95 

1,440 97 
541 15 




$2,664 42 


. $101,845 33 


$90,481 25 
9,315 71 
2,048 37 


. $101,845 33 


1,708 33 
3,468 75 


. $107,022 41 


$100,C 

2,S 


$75 13 

3,934 44 

38 00 

75 99 


$4,123 56 
00 00 

98 85 

102,898 85 


. , 


. $107,022 41 



6 



ANNISQUAM MUTUAL FIRE INSURANCE CO. 



Marine risks : 
Written during the year, 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. 

$197,865 00 
16,550 00 

$181,315 00 



Cash Prem's. 

$4,796 21 
379 47 



Conting't Prem's. 

$4,796 21 
379 47 



$4,416 74 84,416 74 



Miscellaneous. 

Net premiums received from organization of company, 
Net premiums written during the year : motor vehicles, 

CrtTT-nrvTTT -n A TJ a\tt\c< /~\ttt-kttt*tn t»v mtTT^ 



1,416.74*. 



Schedule A. Bonds owned by the Company. 



Railroad Bonds. 
Central Pacific 1st ref. 4s, 1949, 
Illinois Central collateral trust 1st 4s, 1952, 
Lake Shore & Michigan Southern deb. 4s, 1931, 
New York Central & Hudson River 4s, 1942, 
Oregon & California 5s, 1927, 



$4,416 74 



Book Value. 


Rate. 


Market Value. 


$18,843 75 


78 


$19,500 00 


18,687 50 


77 


19,250 00 


21,000 00 


87 


21,750 00 


18,750 00 


78 


19,500 00 


13,200 00 


93 


13,950 00 


$90,481 25 


$93,950 00 



ANNISQUAM MUTUAL FIRE INSURANCE COMPANY, GLOUCESTER. 

Incorporated March 1, 1847. Commenced business Dec. 28, 1847. 
ALLEN J. TUCKER, President. FRANK B. PARSONS, Secretary. 

[This company relies upon assessments on deposit notes to pay losses and expenses.] 

Income. 

Assessments, 



Gross interest on mortgages, $288.54; bank deposits, $277.03, 

Total income, ....... 

Ledger assets, Dec. 31, 1919, . . . . ■ . 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Taxes, licenses and fees, ...... 

Printing and stationery, ...... 

Assessments returned, ....... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 
Mortgage loans on real estate, ..... 

Cash in office, ........ 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 

Total ledger assets, ...... 



8277 22 
565 57 



S842 79 
11,767 22 


$12,610 01 

S38 32 

1 70 

356 00 

10 00 

1 28 

24 82 

132 74 

3 32 


8568 18 


$12,041 83 

85,289 05 

4 31 

38 87 

6,709 60 



812,041 83 



ARKWRIGHT MUTUAL FIRE INSURANCE CO. 



Non-Ledger Assets. 

Interest due and accrued on mortgages, $96.08; other assets, 

$54.02, 

Accrued assessments, ..... 

Gross assets, ...... 

Liabilities. 

Unused portion of premium deposits, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 

Risks and Premiums. 
Fire risks : 

In force Dec. 31, 1919, 

Written during the year, .... 

Total, 

Expired and terminated, .... 

In force at end of year, ..... 



• • • 


$150 10 


. 


369 20 


. 


$12,561 13 


• 


$1,903 42 
10,657 71 


. 


$12,561 13 


Risks. 

$214,750 00 
73,225 00 


Conting't Prem's. 


$287,975 00 
57,225 00 


- 


$230,750 00 


$3,591 76 



ARKWRIGHT MUTUAL FIRE INSURANCE COMPANY, BOSTON. 

Incorporated Feb. 8, 1860. Commenced business Oct. 1, 1860. 
E. V. FRENCH, President. G. S. YOUNG, Secretary. 

Office, 31 Milk Street. 

Income. 
Net fire premiums, . . . . . . . . $4,076,451 10 



Gross interest on bonds, $195,668.04; bank deposits, $22,951.20, 
Gross profit on sale or maturity of bonds, 
Canadian exchange, ..... 

Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, 
Agents' compensation, .... 

Salaries and fees of directors, officers and clerks. 
Rents, ....... 

Furniture and fixtures, .... 

Inspection department, for inspections, maps, plans and adjust- 
ment of losses, ..... 

Federal taxes, ..... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 



218,619 24 

4,363 00 

816 44 

H,300,249 78 

4,442,770 15 

58,743,019 93 



$145,783 29 
50 64 

97,787 60 

5.543 64 

2,472 08 

69,300 93 

6,070 91 

14,983 89 

3.544 62 
1,216 85 
9,851 88 



8 ARKWRIGHT MUTUAL FIRE INSURANCE CO. 

Dividends to policy holders, 12,903,728 00 

Gross loss on sale of bonds, ....... 44,827 29 

Gross decrease in book value of bonds, . . . 3,7 V 

All other disbursements, . . . . 1 77 35 



Total disbursements, $3,399,125 22 



Balance, $5,343,894 71 

Ledger Assets. 

Book value of bonds (Schedule A), $4,622,728 00 

Cash in office, . . . . . . . . . 774 02 

Deposits in trust companies and banks on interest, . 494,250 25 

Premiums in course of collection, ...... 226.142 44 



Total ledger assets, $5,343,894 71 

Nox-Ledger Assets. 
Interest accrued on bonds, . . . . . . . 71.291 07 



Gross assets, ......... $5,415,186 38 

Assets not admitted. 

Premiums over three months due, . . . ^797 76 

Book value of bonds over market value, . 306,369 50 

Discount on Canadian bank deposits, . . 4,635 00 311,802 26 



Admitted assets, ........ $5,103,384 12 

LlABILITIl 

Unpaid losses, . . ... . . $43,129 84 

Unearned premiums on outstanding risks, .... 2,499,859 81 

Salaries, expenses and accounts due or accrued, . . . 6,635 00 

Federal, state and other taxes due or accrued, .... 23,109 76 



Total, . $2,572,734 41 

Surplus to policy holders, ....... 2,530,649 71 

Total liabilities, including surplus, ..... $5,103,384 12 

Risks and Premiums. 

Fire risks: Risks. CashPrem's. Contine't Prem's. 

In force Dec. 31, 1919, . . $575,039,075 00 S4,075,030 39 $20,375,151 95 

Written during the year, . 594,821,388 00 4,269,020 03 21.345.100 15 



Total, . . $1,169,860,463 00 $8,344,050 42 $41,720,252 10 

Expired and terminated, . 485,142,59100 3,493,233 38 17,466,166 90 

In force at end of year, . . S684,717,872 00 $4,850,817 04 $24,254,085 20 

Miscellaneous. 
Net premiums received from organization of company, . $49,135,402 85 

Net losses paid from organization of company, . . 5.0S5.71S 67 

Cash dividends paid policy holders from organization of company, 37,744,310 02 
Dividends to policy holders during 1920: 93, 86, 75 and 62 per 

cent. 
Losses incurred during the vear: wind storms and tornadoes, 

$3,902.89; sprinkler leakage, S13,893.69. 



ARKWRIGHT MUTUAL FIRE INSURANCE CO. 



9 



Schedule A. Bonds owned by the Company. 



Government Bonds 
Canada 5§s, 1933, . 
Canada 5§s, 1923, . 

United King, of Gt. Brit, and Ire. 5§s, 1929 
United States 4Js, 1942, op. 1927, 
United States 4|s, 1942, op. 1927, 
United States 4is, 1928, . 
United States 4Js, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4|s, 1938, op. 1933, 
United States 4*s, 1923, op. 1922, 

State and Municipal Bonds 
Baltimore, Md., 4^s, 1942, 
Cincinnati, Ohio, 6s, 1928, 
Cleveland, Ohio, 6s, 1928, 
Hoboken, N. J., 5s, 1921, . 
Hoboken, N. J., 5s, 1922-24, 
Hoboken, N. J., 5s, 1925-28, 
Hoboken, N. J., 5s, 1929-32, 
Hoboken, N. J., 5s, 1933-38, 
Hoboken, N. J., 5s, 1939-40, 
Manitoba 6s, 1925, . 
New York, N. Y., 4s, 1955, 
New York, N. Y., 4£s, 1962, 
Oakland, Cal., 5§s, 1931, . 
Omaha, Neb., 5s, 1938. . 

Railroad Bonds 
Atch., Top. & Santa Fe 41s, 1962, 
Baltimore & Ohio 5s, 1995, 
Baltimore & Ohio 4£s, 1933, 
Boston & Albanv 3£s, 1952, 
Boston & Albany 4s. 1933-34, 
Boston Elevated 4|s, 1937, 
Boston Elevated 4s, 1935, 
Boston Elevated 4§s, 1941, 
Boston & Lowell 4s, 1932, 
Boston & Maine 6s. 1930, 
Boston & Maine 4s, 1942, 
Boston & Maine 4^s, 1944, 
Chicago, Burlington & Quincy 4s, 1958, 
Chicago Jet. & Union Stk. Yds. 5s, 1940, 
Chicago, Milwaukee & St. Paul 4s, 1934, 
Chicago Union Station 4^s, 1963, 
Delaware & Hudson 4s, 1943, 
Erie & Pittsburg 3|s, 1940, 
Fitchburg 4s, 1928, . 
Illinois Central 4s, 1952, . 
Lake Shore & Michigan Southern 3§s, 1997, 
Lake Shore & Michigan Southern 4s, 1931, 
Maine Central 4§s, 1935, .... 
Minn., St. Paul & S. Ste. Marie 4s, 1938, . 
New England 4s, 1945, .... 
New York Central & Hudson River 3^s, 1997, 
New York Central 4s, 1998, 
New York, New Haven & Hartford 3§s, 1947, 
N. Y., N. H. & H. (H. R. & P. C. Div.) 4s, 1954 
New York, Philadelphia & Norfolk 4s, 1939, 
Norwich & Worcester 4s, 1927, 
Old Colony 4s, 1938, 
Oregon-Washington R.R. & Navigation 4s, 1961 
Pennsylvania Company 4s, 1931, 
Pennsylvania 4^s, 1965, 
Pennsylvania 7s, 1930, 
Portland & Ogdensburg 4£s, 1928, 
L'nion Pacific equipment trust 7s, 1930-34, 
Union Pacific equipment trust 7s, 1935, 
Union Pacific 6s, 1928, 
Union Tank Car 7s, 1930, 
West End Street 4s, 1932, 



Book Value. 
$25,000 00 

74,625 00 

48,125 00 
130,000 00 

41,000 00 

215,000 00 

250,000 00 

128,700 00 

60,000 00 

25,000 00 
50,000 00 
100,000 00 
5,000 00 
15,000 
20,000 
20,000 
20,000 
10,000 
47,920 
50,000 
25,000 00 
25,000 00 
25,000 00 



00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



50,000 
25,000 
48,000 
44,762 
73,975 
20,000 
50,000 
25,000 
54,875 
12,500 
33,000 
18,000 
24,937 
186,000 
47,375 
50,000 00 
24,750 00 
24,750 00 
50,000 00 
44,375 00 
49,500 00 
23,906 00 
50,000 00 
46,000 
30,000 
70,766 
31,575 
35,000 
79,700 00 
50,000 00 
50,000 00 
40,000 00 
46,625 00 
19,400 00 
72,900 00 
99,750 00 
25,000 00 
70,000 00 
5,000 00 
98,000 00 
49,150 00 
44,375 00 



00 
00 
00 
00 
00 



Rate. 
100 
100 

93 
100 

85 
100 

96 + 
100 

85 + 
100 

97 
107 
107 
100 
101 
102 
103 
104 
105 

99 

91 

95 
104 
101 

85 

77 

76 

68 

84 

70 

69 

68 

77 

75 

63 

64 

83 

88 

70 

85 

84 

75 

83 

77 

73 

87 

86 

85 

72 

72 

73 

52 

72 

81 

85 

80 

76 

86 

88 
105 

88 
104 
105 
102 
101 

75 



Market Value. 
$25,000 00 

75,000 00 

46,500 00 
130,000 00 

42,500 00 
100,000 00 
115,836 00 
250,000 00 
128,797 50 

60,000 00 



00 
00 
00 
00 
00 
00 
00 



24,250 
53,500 
107,000 
5,000 
15,150 
20,400 
20,600 
20,800 00 
10.500 00 
49.500 00 
45,500 00 
23,750 00 
26,000 00 
25,250 00 

42,500 00 
19,250 00 
38,000 00 
34,000 00 
63,000 00 
14,000 00 
34,500 00 
17,000 00 
42,350 00 
9,375 00 
31,500 00 
16,000 00 
20,750 

176,000 
35,000 
42,500 
21,000 
18,750 00 
41,500 00 
38,500 00 
36,500 00 
21,750 00 
43,000 00 
42.500 00 
21,600 00 
54,000 00 
29,200 00 
26,000 00 
57,600 
40,500 
42,500 
32,000 
38,000 
17,200 
66,000 

105,000 

22,000 

72,800 00 

5,250 00 

102,000 00 
50,500 00 
33,750 00 



00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 



10 



ATTLEBOROUGH MUTUAL FIRE INSURANCE CO. 



Miscellaneous Bonds. 
American Telephone & Telegraph 4s, 1929, 
American Telephone & Telegraph 6s, 1922, 
Brooklyn Edison 5s, 1949, 
Connecticut River Power 5s, 1937, 
Detroit Edison 6s, 1940, 

Edison Electric Illuminating, Boston, 7s, 1922, 
Edison Electric Illuminating, Boston, 5s, 1922, 
Edison Electric Illuminating, Boston, 6s, 1922, 
General Electric 6s, 1940, . 
Massachusetts Gas 4§s, 1931, 
New England Power 5s, 1951, . 
New York Telephone 4Js, 1939, 
Niagara Falls Power 6s, 1950, . 
Northern States Power 5s, 1941, 
Pennsylvania-Ohio Power & Light 75s, 1940, 
United States Rubber 5s, 1947, . 
Western Electric 5s, 1922, 
AVestern Electric 7s, 1925, 
Western Telephone & Telegraph 5s, 1932, 



Book Value. 

$70,937 00 
99,250 00 
82,250 00 
42,375 00 
88,500 00 
49,000 00 

100,000 00 
74,625 
49,700 
73,125 
45,250 
24,275 
48,125 
38,250 
96,500 
^7,125 
50,000 00 
49,125 00 
50,000 00 

S4.622.728 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 



Rate. 
81 
98 
80 
90 
89 
100 
97 
99 
98 
82 
88 
84 
88 
82 
97 
83 
97 
99 
87 



Market Value. 

$60,750 00 
98,000 00 
00 00 
45,000 00 
89,000 00 
50,000 00 
97,000 00 
74,2.50 
49,000 
61,500 
44,000 
21,000 00 
48,400 00 
41.000 00 
97.000 00 
83,000 00 
48,500 00 
4!). 500 00 
43,500 00 

S4,316,358 50 



00 

00 

00 
00 



ATTLEBOROUGH MUTUAL FIRE INSURANCE COMPANY, 

ATTLEBOROUGH. 

Incorporated Feb. 24, 1844. Commenced business July 18, 1845. 
MARK E. ROWE, President. JAMES S. PALMER, Secretary. 

Income. 

Net fire premiums, $18,162 06 

Gross interest on mortgages, $730.50; stocks and bonds, $1,041.86; 

bank deposits, $222.63, 1,994 99 

Gross profit on sale of bonds, ....... 30 00 

Gross increase in book value of bonds, . . 107 40 

Total income, 
Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage telegraph, telephone, exchange and express. 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Total disbursements, .... 

Balance, $42,552 94 







$20,294 45 


• 


37,994 40 


$58,288 85 


$6,708 35 






88 46 






589 81 






2,449 00 






292 14 






150 69 






128 97 






146 96 






7 00 






516 44 






4,658 09 


• 


$15,735 91 



ATTLEBOROUGH MUTUAL FIRE INSURANCE CO. 



11 



Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 



Non-Ledger Assets. 

Interest accrued on mortgages, $ 100.72 ; bonds, $181.72, 

Due from Rhode Island Insurance Company, .... 

Gross assets, ......... 

Assets not admitted. 

Agents' balances over three months due, . . $419 68 

Book value of stocks and bonds over market 
value, 1,080 00 

Admitted assets, ........ 



Liabilities. 

Unpaid losses, $634.68; less recognized reinsurance, $350, 
Unearned premiums on outstanding risks, 
Dividends due policy holders, .... 

Federal, state and other taxes due or accrued, . 
Reinsurance, ....... 

Interest on mortgages paid in advance, . 

Total, 

Surplus to policy holders, ..... 

Total liabilities, including surplus, 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 



Risks and Premiums. 

» Risks. 

$5,353,733 00 
2,191,989 00 



Cash Prem's. 

$83,758 44 
35,495 70 



$7,545,722 00 
1,994,828 00 

$5,550,894 00 

3,374,506 00 

$2,176,388 00 



$119,254 14 
30,710 46 

$88,543 68 

39,046 62 

$49,497 06 



Miscellaneous. 

Net premiums received from organization of company, 

Xet losses paid from organization of company, 

Cash dividends paid policy holders from organization of company, 

Dividends to policy holders during 1920: 25, 30 and 35 per cent. 



$10,300 00 

20,100 00 

912 62 

7,241 77 

3,998 55 

$42,552 94 



282 44 
2,910 72 

$45,746 10 



1,499 68 



$44,246 42 


$284 68 

24,915 84 

496 29 

255 87 

3,698 63 

19 55 



$29,670 86 
14,575 56 

$44,246 42 



Conting't Prem's. 

$83,758 44 
35,495 70 

$119,254 14 
30,710 46 

$88,543 68 



$363,312 74 

226,219 44 

63,679 52 



12 



AUTOMOBILE MUTUAL FIRE INSURANCE CO. 



Schedule A. Stocks and Bonds owned by the Company. 

Stocks. 
10 shares Hereford Railroad, 
10 " Attleboro Sav. & Loan Association, 

Government Bonds. 
United States 4s, 1942, op. 1927, 

United States 4is, 1928 

United States 4£s, 1938, op. 1933, 

State Bonds. 
Nova Scotia 6s, 1925 

Railroad Bonds. 
Brockton Street 5s, 1924, .... 
New York Central 7s, 1924, 

Miscellaneous Bonds. 
American Tel. & Tel. 5s, 1946, . 
Arlington Gas Light 5s, 1927, 
Edison Electric Illuminating 6s, 1922, 
Louisville Gas & Electric 7s, 1923, 
Northampton Electric Light 5s, 1927, 
Plymouth Electric Light 5s, 1925, 



Book Value. 


Rate. 


Market Value. 


SI, 000 


00 


47 


$470 


00 


5,000 


00 


100 


5,000 


00 


100 


00 


100 


100 


00 


1.000 


00 


100 


1 .000 


00 


1,000 


00 


100 


1,000 


00 


2,000 


00 


99 


1,980 


00 


1,000 


00 


75 


750 00 


2,000 


00 


102 


2,040 


00 


1,000 


00 


86 


860 


00 


1,000 


00 


97 


970 


00 


1,000 


00 


99 


990 


00 


2,000 


00 


99 


1,980 


00 


1,000 


00 


92 




00 


1,000 


00 


96 


960 


00 


820,100 


00 


$19,020 00 



Incorporated July 7, 1914. 
DEAN K. WEBSTER, President. 



AUTOMOBILE MUTUAL FIRE INSURANCE COMPANY, BOSTON 

Commenced business Sept. 10, 1914. 

A. SHIRLEY LADD, Secretary. 

Home Office, 40 Central Street. 

Income. 
Net marine premiums, 



Gross interest on bonds, S2,S06.19; bank deposits. 8412.72. 

Agents' balances previously charged off, . 

Gross profit on sale or maturity of bonds, 

Borrowed money, ..... 

Commission on reinsurance, . 

Advance premiums, .... 

From all other sources, .... 

Total income, .... 

Ledger assets, Dec. 31, 1919, . 



Total, 

Disbursements. 

Net amount paid policy holders for marine losses. 
Loss adjustment expenses, .... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ....... 

Furniture and fixtures, ..... 

Federal taxes, ....... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express. 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery. 
Dividends to policy holders, .... 



8184,886 36 

3.218 91 

32 

412 50 

15.000 00 

1,617 92 

132 14 

50 

8205.268 05 
78,301 17 



1283,569 82 


826,911 


59 


1,656 


97 


11.402 


29 


42.732 


74 


5.910 


35 


3.422 


44 


19 


00 


2,459 


6S 


1,562 


s4 


100 


00 


10.0S0 


25 


31,257 


27 



AUTOMOBILE MUTUAL FIRE INSURANCE CO. 



13 



Borrowed money repaid, .... 
Interest on borrowed money, .... 
Premiums of 1920 paid in 1919, 
All other disbursements, .... 


• 


• 


$15,000 00 

30 00 

114 75 

348 92 


Total disbursements, .... 


$153,009 09 


Balance, ...... 






$130,560 73 


Ledger Assets. 








Book value of bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, 






$103,278 35 

1,600 07 

17,674 63 

8,007 68 


Total ledger assets, .... 


$130,560 73 


Non-Ledger Assets. 








Interest due and accrued on bonds, $2,225.15; 

$841.53, 

Salvage recoverable, ..... 
Reinsurance recoverable on paid losses, . 


other assets, 


3,066 68 

1,430 00 

309 06 


Gross assets, . . . . . 


$135,366 47 


Assets not admitted. 








Premiums over three months due, . 
Book value of bonds over market value, 


$18 83 
1,138 55 


1,157 38 


Admitted assets, ..... 






$134,209 09 


Liabilities. 








Unpaid losses, $12,448.77; less recognized reinsuran< 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Reinsurance, ...... 

Advance premiums, ..... 


;e, $785.57 


> • 


$11,663 20 

87,130 16 

1,308 90 

1,574 38 

443 09 

132 14 


Total, 

Surplus to policy holders, .... 


$102,251 87 
31,957 22 


Total liabilities, including surplus, 


$134,209 09 


Risks and Premiums. 
Marine risks : Risks. 
In force Dec. 31, 1919, . . $4,696,605 00 
Written during the year, . 8,665,329 00 


Cash Prem's. 

$119,430 97 
225,802 19 

$345,233 16 
155,512 31 

$189,720 85 

10,575 32 


Conting't Prem's. 

$119,430 97 
225,802 19 


Total, . . . $13,361,934 00 
Expired and terminated, . 5,992,885 00 


$345,233 16 
155,512 31 


In force at end of year, . . $7,369,049 00 
Deduct reinsurance in recog- 
nized companies, . . 668,919 00 


$189,720 85 


Net amount in force, . $6,700,130 00 


$179,145 


53 


- 



14 



AUTOMOBILE MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends paid policy holders from organization of company, 

Dividends to policy holders during 1920: 25 per cent. 

Net premiums written during the year : motor vehicles, §184,886.36. 

Losses incurred during the year: motor vehicles, $30,671.30. 



S52 1,263 52 

102,952 59 

77,903 22 



Schedule A. Bonds owned by the Company. 



Government Bonds. 
Belgium 7§s, 1945, .... 
French Republic 8s, 1945, 
Switzerland 8s, 1940, 
Switzerland 5§s, 1929, 
United States 3£s, 1947, op. 1932, 
United States 4s, 1942, op. 1927, 
United States 4£s, 1947, op. 1932, 
United States 4}s, 1942, op. 1927, 
United States 4|s, 1942, op. 1927, 
United States 4 is, 1928, . 
United States 4£s, 1928, . 
United States 41s, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

State and Municipal Bonds. 
Massachusetts 4s, 1922, 
New Bedford & Fairhaven, Mass., bridge 4s, 195' 
Springfield, Mass., 4§s, 1927, 
Winnipeg, Man., Gr. Winn. Water Dis. 5s, 1921, 

Railroad Bonds. 
Baltimore & Ohio 4|s, 1933, 
Canadian National 7s, 1935, 
Chicago, Burlington & Quincy 4s, 1921, 
Chicago, Milwaukee & St. Paul 5s, 2014, 
Chicago, Milwaukee & St. Paul 4|s, 1932, 
Great Northern 4£s, 1961, 
Illinois Central 7s, 1931, . 
Illinois Central 4s, 1952, . 
Pacific Fruit Express 6s, 1930, 
Pennsylvania 4^s, 1965, 
Southern Pacific 5s, 1934, ~~ 
St. Louis, Springfield & Peoria 5s, 1939, 
West End Street 5s, 1932, 

Miscellaneous Bonds. 
Adirondack Electric Power 5s, 1962, . 
American Agricultural Chemical 5s, 1928, 
American Telephone & Telegraph 4s, 1929, 
Cleveland Electric Illuminating 5s, 1939, 
Detroit Edison 5s, 1933, . 
Detroit Edison 5s, 1940, . 
Great Northern Power 5s, 1935, 
Minneapolis Gas 5s, 1930, 
New England Power 5s, 1951, . 
Portland General Electric 5s, 1935, 



Book Value. 

$4,862 50 

4,975 00 

4,987 50 

1,925 00 

50 00 

100 00 

2,000 00 

2,000 00 

944 80 

2,000 00 

4,425 00 

2,000 00 

2,000 00 

982 70 

950 00 

1,016 10 

982 50 

4,985 00 
4,937 50 
4,768 75 
1,570 00 

978 75 
3,246 00 
3,075 00 

845 00 
10,012 50 
2,947 50 
2,730 00 
1,900 00 
2,020 00 

1,900 00 
1,965 00 
8,198 75 
1,800 00 
1,000 00 
2,000 00 
1,765 00 

995 00 
2,452 50 

985 00 

S103.27S 35 



Rate. 
100 
102 
104 

91 
100 
100 
100 
100 

94 + 
100 

884- 
100 
100 

99 

87 
101 
100 

76 
101 
100 

79 

77 

87 
104 

77 

97 

88 
107 

71 

83 

85 
96 
81 

87 
94 

87 
84 
60 

ss 

85 



00 
00 
00 
00 



Market Value. 

$5,000 00 

5,100 00 

5,200 

1,820 

50 

100 

2,000 00 

2,000 00 

944 80 

2,000 00 

4,425 00 

2,000 00 

2,000 00 

990 00 

870 00 

1,010 00 

1,000 00 

5,320 00 
5,050 00 
5,000 00 
1,580 00 

770 00 
3,480 00 
3,120 00 

770 00 
9,700 00 
2,640 00 
3,210 00 
1.420 00 
1,660 00 

1,700 00 
1,920 00 
8,100 00 
1,740 00 

940 00 
1,740 00 
1,680 00 

600 00 
2,640 00 

850 00 

S102.139 SO 



BARNSTABLE COUNTY MUTUAL FIRE INSURANCE CO. 



15 



BARNSTABLE COUNTY MUTUAL FIRE INSURANCE COMPANY, 

YARMOUTHPORT. 

Incorporated March 2, 1833. Commenced business Aug. 1, 1833. 
FREDERICK C. SWIFT, President. JOHN H. CLARK, Secretary. 

Income. 
Net fire premiums, .... ... $62,860 50 

Gross interest on stocks and bonds, $9,444.07; bank deposits, 

$719.34; gross rents for company's own occupancy, $200, . . 10,363 41 

Gross profit on sale or maturity of bonds, .... 77 66 



Total income, ..... 

Ledger assets, Dec. 31, 1919, . . v . 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, including $200 for company's own occupancy, 
Inspections, surveys, underwaters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Advertising, subscriptions, printing and stationery, 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to policy holders, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest due and accrued on bonds, ..... 

Gross assets, ......... 

Assets not admitted. 

Overdue and accrued interest on bonds in de- 
fault, $583 33 

Book value of stocks and bonds over market 
value, 15,439 42 

Admitted assets, ........ 



$73,301 57 
206,152 77 

$279,454 34 



$16,564 00 

112 00 

11,499 75 

417 78 

385 20 

1,363 30 

345 76 

280 78 

581 73 

51 50 

29 00 

30,610 90 

36 45 

345 32 

$62,623 47 

$216,830 87 



$1,000 00 

197,605 00 

34 88 

18,190 99 

$216,830 87 

2,750 12 

$219,580 99 



16,022 75 
$203,558 24 



16 



BARNSTABLE COUNTY MUTUAL FIRE INSURANCE CO. 



Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 



$100 00 

88,0% 61 

313 92 

100 00 

1,000 00 

889,612 53 

113,945 71 

8203,558 24 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. Cash Prera's. Conting't Prem's. 

. $9,395,433 00 $161,397 40 8161,397 40 

3,782,264 00 62,909 70 62,909 70 



$13,177,697 00 
3,300,399 00 



$224,307 10 8224,307 10 
56,772 80 56,772 80 



$9,877,298 00 8167,534 30 S167,534 30 



Miscellaneous. 

Net premiums received from organization of company, . . $1,801,440 74 
Net losses paid from organization of company, . . . 485,469 57 

Cash dividends paid policy holders from organization of company, 1,055,991 78 
Dividends to policy holders during 1920: 50 and 60 per cent. 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
14 shares Chicago & Northwestern, 
24 '-' New York, New Haven & Hartford, 
70 " Old Colony, .- . 
10 " Southern Pacific, 
30 " Union Pacific, common, 
8 " Union Pacific, preferred, 
20 " West End Street, preferred, 
30 " West End Street, common, 

Bank Stocks. 
10 shares Falmouth National, 
34 
35 
10 
10 
17 



First National, Boston, 
First National, Yarmouth, . 
Hyannis Trust, . 
Merchants National, Boston, 
National Shawmut, Boston, 



Miscellaneous Stocks. 
50 shares Massachusetts Real Estate Company, 

Government Bonds. 
United States 4|s, 1947, op. 1932, 
United States 41s, 1947, op. 1932, 
United States 4£s, 1942, op. 1927, 
United States 4}s, 1942, op. 1927, 
United States 4£s, 1928, . 
United States 4|s, 1938, op. 1933, 
United States 4£s, 1938, op. 1933, 
United States 4£s, 1938, op. 1933, 
United States 4£s, 1938, op. 1933, 
United States 4|s, 1923, op. 1922, 
United States War Savings Stamps (issue of 1918), 



Book Value. 


Rate. 


Market Value. 


SI, 400 


00 


91 


SI, 2 74 00 


2,400 


00 


35 


840 00 


7,000 


00 


93 


6,510 00 


600 


00 


104 


1,040 00 


3,000 


00 


130 


3,900 00 


600 


00 


70 


560 00 


2,000 


00 


106 


1,060 00 


2,500 


00 


89 


1,335 00 


1,000 


00 


125 


1,250 00 


5,400 


00 


310 


10,540 00 


3,500 


00 


135 


4.725 00 


1,000 


00 


165 


1,650 00 


3,000 


00 


277 


2.770 00 


1,900 


00 


266 


4,522 00 


1,000 


00 


39 


1,950 00 


2,000 


00 


100 


2,000 00 


958 


00 


95 + 


958 63 


2,000 


00 


100 


2,000 00 


849 


00 


85 + 


850 25 


5,500 


00 


100 


5.500 00 


3,000 


00 


100 


3,000 00 


4,153 


00 


93 


4,185 00 


3,656 


00 


91 + 


3,660 50 


6,817 


00 


85 + 


*41 20 


5,000 


00 


100 


5,000 00 


837 


00 


- 


894 00 



BEACON MUTUAL FIRE INSURANCE CO. 



17 



State and Municipal Bonds. 
Fort Worth, Tex., 4§s, 1949, 
Massachusetts 3^s, 1935. .... 
Memphis, Term., 4§s, 1936, 
Omaha, Neb., 4Js, 1941, .... 

Railroad Bonds. 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Baltimore & Ohio 5s, 1995, 
Boston & Maine 4s, 1937, 
Boston & Maine 4s, 1942, 
Boston & Maine 6s, 1930, 
Boston Elevated 4^s, 1937, 
Chicago, Burlington & Quincy 3§s, 1949, 
Chicago & Eastern Illinois 6s, 1934, . 
Chicago Jet. & Union Stk. Yds. 5s, 1940, 
Chicago & Northwestern 4s, 1926, 
Chicago Railways 1st 5s, 1927, . 
Delaware & Hudson 5s, 1935, 
Illinois Central (Cairo Bridge) 4s, 1950, 
Interborough Rapid Transit 5s, 1966, 
Lake Shore & Michigan Southern 4s, 1928, 
Lake Shore & Michigan Southern 4s, 1931, 
Lynn & Boston 5s, 1924, .... 
Maine Central 4§s, 1935, .... 
Minneapolis, St. Paul & S. Ste. Marie 4s, 1938, 
N. Y. Cent. & Hud. R, (M. Cent, coll.) 3fs, 1998, 
New York Central Lines equip. 7s, 1929, 
N. Y., N. H. & H. (H. R. & Pt. C.) 4s, 1954, 
N. Y., N. Haven & Hartford 3£s, 1956, 
N. Y., N. Haven & Hartford 6s, 1948, 
Omaha & Council Bluffs St. Ry. & Bridge 5s, 1928 
Oregon Short Line 5s, 1946, 
Pennsylvania 4^s, 1965, .... 
Portland & Ogd*ensburg 4§s, 1928, 
Puget Sound Trac, Light & Power 7s, 1921, 
Terminal Association of St. Louis 4|s, 1939, 
United Traction & Electric 5s, 1933, . 
West End Street 5s, 1944, 
Worcester Consolidated Street 4§s, 1930, 
Worcester Consolidated Street 5s, 1927, 

Miscellaneous Bonds. 
American Agricultural Chemical 5s, 1928, . 
American Telephone & Telegraph 4s, 1929, 
Consolidated Rendering 5s, 1941, 
Laconia Gas & Electric 5s, 1940, 
Northern States Power 5s, 1941, 
Swift & Company 5s, 1944, 
Western Telephone & Telegraph 5s, 1932, 



Book Value. 

$3,000 00 
1,000 00 
1,000 00 
3,000 00 



1,000 
3,000 
2,500 
7,000 
1,500 
1,000 
1,000 
1,000 
1,980 
5,000 
985 
3,000 
2,000 
2,985 
8,000 
1,000 
1,000 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



5,000 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



915 
1,000 
1,990 
8,000 
1,000 
1,000 
2,000 
1,000 

975 
3,000 
1,960 
5,000 
5,000 00 
3,000 00 
6,000 00 
4,000 00 

4,000 00 
4,000 00 
975 00 
4,000 00 
1,930 00 
4,840 00 
4,000 00 



Rate. 
92 
88 
96 
95 

81 
77 
66 
63 
75 
70 
78 
97 
88 
88 
75 
92 
79 
62 
88 
87 
73 
86 
85 
67 

103 
72 
51 
84 
78 
94 
88 
88 

100 
90 
40 
75 
50 
60 

96 
81 
81 
86 
82 
90 
87 



Market Value. 

$2,760 00 

880 00 

930 00 

2,850 00 

810 00 
2,310 00 
1,980 00 
5,670 00 
1,125 00 

700 00 

780 00 

970 
1,760 
4,400 

750 
2,760 
1,580 
1,860 
7,040 00 

870 00 

730 
4,300 

850 

670 
2,060 
7,200 

765 

840 
1,560 

940 

880 
2,640 
2,000 
4,500 
2,000 
2,250 
3,000 
2,400 



00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



3,840 00 
3,240 00 
810 00 
3,440 00 
1,640 00 
4,500 00 
3,480 00 



$197,605 00 



$182,165 58 



BEACON MUTUAL FIRE INSURANCE COMPANY, BOSTON. 

Incorporated Aug. 25, 1920. Commenced business Oct. 25, 1920. 
DEAN K. WEBSTER, President. A. SHIRLEY LADD, Secretary. 

Office, 177 Milk Street. 

Income.* 
Net fire premiums, ........ $17,099 95 

Gross interest on bank deposits, ...... 



13 39 



Total income, ..... 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Agents' compensation, including brokerage, 
Salaries and fees of directors, officers and clerks, 



$17,113 34 



$432 81 

195 34 

90 00 



18 



BERKSHIRE MUTUAL FIRE INSURANCE CO. 



Furniture and fixtures, . 

Taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Printing and stationery, 

Total disbursements, 

Balance, 

Ledger Assets. 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 



Liabilities. 
Unpaid losses, ..... 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, 
Commissions or other charges due or accrued, 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



Fire risks : 
Written during the year, 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. 

. $1,428,800 00 
33,900 00 



$1,394,900 00 



S41 93 


57 00 


19 97 


86 70 


$923 81 


$16,189 53 


$1,275 70 


7,683 92 


7,229 91 


$16,189 53 


159 42 


14,730 61 


385 61 


346 40 


315 89 



Cash Prem's. 

$17,382 95 
297 82 



$15,837 93 
351 60 

$16,189 53 



Conting't Prem'3. 

$17,382 95 
297 82 



$17,085 13 $17,085 13 



Miscellaneous. 

Net premiums received from organization of company, 
Net losses paid from organization of company, 



$17,099 95 
432 81 



BERKSHIRE MUTUAL FIRE INSURANCE COMPANY, PITTSFIELD. 

Incorporated March, 1835. Commenced business August, 1S35. 
HENRY R. PEIRSON, President. ROBERT A. BARBOUR, Secretary. 

Income. 

Net fire premiums, $320,625.84 ; marine, $38,567.86, . 

Gross interest on mortgages, $560; stocks and bonds, $17,127.44; 

bank deposits, $222.40, 

Agents' balances previously charged off, ..... 

Gross profit on maturity of bonds, ...... 

From all other sources, ........ 



$359,193 


70 


17,909 S4 

91 67 

172 70 

90 57 



Total income, 
Ledger assets, Dec. 31, 1919, . 



$377,458 48 
423,890 77 



Total, 



$801,349 25 



BERKSHIRE MUTUAL FIRE INSURANCE CO. 



19 



Disbursements. 

Net amount paid policy holders for fire losses, $113,406.21 

marine, $4,272.14, 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations, 
Federal taxes, ....... 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, . 
Legal expenses, ....... 

Advertising, subscriptions, printing and stationery, . 
Tabulating, ........ 

Dividends to policy holders, . . • 

Gross loss on sale of stocks, ..... 

Gross decrease in book value of stocks and bonds, 
All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Mortgage loans on real estate, . . .. ■ 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 

Non-Ledger Assets 
Interest due and accrued on mortgages, $30; bonds, $4,629.13, 

Gross assets, ...... 

Assets not admitted 

Agents' balances over three months due, . 

Overdue and accrued interest on bonds in de- 
fault, . . . .... 

Book value of stocks and bonds over market 
value, ....... 

Admitted assets, ..... 

Liabilities. 
Unpaid losses, $18,408.90; less recognized reinsurance, $2,287.59, 
Unearned premiums on outstanding risks, .... 

Dividends due policy holders, ...... 

Salaries, expenses and accounts due or accrued, 



$117,678 35 

1,653 92 

67,944 62 

339 20 

2,219 65 

18,295 83 

2,664 40 

5,528 53 

520 18 

4,768 16 

2,671 92 

5,110 74 

1,170 15 

386 61 

4,436 75 

762 93 

50,231 39 

8,011 25 

27,533 81 

15 00 

$321,943 39 

$479,405 86 



$11,000 00 

403,820 42 

7,035 55 

19,335 42 

38,214 47 



. 


$479,405 86 


, $4,629.13, . 


4,659 13 


. 


$484,064 99 


$640 95 




583 33 




6,348 56 


7,572 84 



$476,492 15 



$16,121 31 

303,325 95 

2,902 41 

1,500 00 



20 



BERKSHIRE MUTUAL FIRE INSURANCE CO. 



Federal, state and other taxes due or accrued, .... 
Contingent commissions or other charges due or accrued, . 

Total, 

Surplus to policy holders, ....... 

Total liabilities, including surplus, ..... 

Risks and Premiums. 

Fire risks: Risks. CashPrem's. 

In force Dec. 31, 1919, . . $42,152,376 00 $571,839 56 

Written during the year, . 35,034,692 00 431,796 96 
Excess premiums on account of 

reinsurance, ... - 539 29 



Total, . 
Expired and terminated, 



$77,187,068 00 $1,004,175 81 
26,863,300 00 348,138 47 



In force at end of year, . . S50,323,768 00 
Deduct reinsurance in recog- 
nized companies, . 9,782,264 00 

Net amount in force, 



$656,037 34 
121,016 02 



$40,541,504 00 $535,021 32 



Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in for-se, 



$308,022 00 
2,713,763 00 

$3,021,785 00 
599,392 00 

$2,422,393 00 

657,825 00 

si. 764,568 00 



$7,186 11 

56,990 42 

$64,176 53 
14,349 03 

$49,827 50 

12,546 16 

$37,281 34 



Miscellaneous. 
Xet premiums received from organization of company, 
Xet losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Dividends to policy holders during 1920: 20, 30, 35 and 40 per 

cent. 
Xet premiums written during the year: motor vehicles, $38,567.86. 
Losses incurred during the year: motor vehicles, $5,597.13. 



$6,000 00 
1,500 00 

$331,349 67 
145,142 48 

$470,492 15 



Conting't Prem'e. 

1557,288 

431,796 96 



$989,085 29 
333,0^7 24 

$655,498 05 



$7.1 Mj 11 
56,990 42 

$64,176 53 

14,349 03 

$49,827 50 



$2,982,457 08 

1,151,234 20 

772,383 90 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
10 shares Baltimore & Ohio, preferred, 
55 " Chicago & Northwestern, . 
50 " Chicago, St. Paul, Minn. & Omaha, 
80 " New York Central & Hudson River, 
121 " Pennsylvania, ... 
Bank Stocks. 
10 shares Agricultural National, Pittsfield, 
20 " Berkshire Loan & Trust, Pittsfield, 
15 " Chicopee National, Spring&eld, . 
10 " First National, Adams, 
9 " Lee National, .... 
10 " Lenox National, 



Book Value. 


Rate. 


Market V 


S913 78 


56 


B0 00 


5,500 00 


91 


5,005 00 


4,200 00 


7> 


3,900 00 


6,320 00 


81 


6,480 00 


6,687 00 


91 


5,505 50 


2,000 00 


450 


4.500 00 


4.405 40 


275 


5,500 00 


2,860 40 


225 


3.375 00 


1,337 50 


103 


1,030 00 


1,579 00 


161 


1.449 00 


1,020 00 


160 


1,600 00 



BERKSHIRE MUTUAL FIRE INSURANCE CO. 



21 



10 shares North Adams National, 

59 " Pittsfield National, . 

12 " Third National, Pittsfield, . 

24 " Worcester Bank & Trust, . 

Miscellaneous Stocks. 

25 shares Fisk Rubber, preferred, 

Government Bonds. 
British Government 5£s, 1929, . 
Canada 5s, 1921, .... 
Canada 5§s, 1929, .... 
Denmark Ss, 1945, .... 
United States 4Js, 1942, op. 1927, 
United States 4£s, 1942, op. 1927, 
United States 4Js, 1928, . 
United States 4£s, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4js, 1938, op. 1933, 
United States 4|s, 1923, op. 1922, 

State, County and Municipal Bonds 
Attleboro, Mass., Shs, 1935, 
Dayton, Ohio, 5s, 1930, 
Denver, Col., city and county, 4|s, 1948, 
Geneva, N. Y., 4§s, 1924, 
Gloucester, Mass., 4s, 1922, 
Lackawanna, N. Y., 5s, 1935-36, 
Los Angeles, Cal., 4£s, 1940, 
Massachusetts 4s, 1922, . 
Melrose, Mass., 4s, 1924, . 
Nashville, Tenn., 5s, 1927, 
Keedham, Mass., 4s, 1921, 
Kewark, N. J., 4£s, 1923, . 
N'orwich, Conn., 4s, 1931, 
Pittsfield, Mass., 3|s, 1924, 
Pittsfield, Mass., note, 4|s, 1921-24, 
Pittsfield, Mass., note, 5§s, 1922, 
Quincy, Mass., 4s, 1922, . 
Salem, Mass., 3£s, 1923, . 
Salem, Mass., 3§s,' 1925, . ' . 
Salem, Mass., 3£s, 1926, . 
Salem, Mass., 4s, 1925, 
Seattle, Wash., 4|s, 1930, 
Stamford, Conn., 4^s, 1921-23, . 
raunton, Mass., 4s, 1927, 
Wallingford, Conn., 4s, 1934, . 
Winnipeg, Man., 5s, 1926, 

Railroad Bonds. 
Baltimore & Ohio prior lien, 35s, 1925, 
Baltimore & Ohio (Pitts., L. E. & W. Va.) , 4s 
Boston & Albany 5s, 1963, 
Boston & Albany 5s, 1938, 
Boston & Maine 4£s, 1944, 
Chicago, Burl. & Quincy (111. Div.) 3£s, 1949, 
Chicago, Rock Island & Pacific 1st ref. 4s, 1934, 
Chicago, St. Paul, Minn. & Omaha 5s, 1930, 
Grand Trunk 7s, 1940, .... 
Greenfield & Turners Falls Street 5s, 1923, 
Interborough Rapid Transit 5s, 1966, 
Minneapolis, St. Paul & S. Ste. Marie 7s, 1924, 
Northern Maine Seaport 5s, 1935, 
Pacific Fruit Express 7s, 1926, 
Pacific Fruit Express 7s, 1929, 
Pennsylvania 5s, 1968, 
Portland Terminal 4s, 1961, 
Southern Pacific 7s, 1924-28, 
Union Pacific 7s, 1924, 
United Traction & Electric, Providence, 5s, 1933, 
Vermont Valley 4§s, 1940, 
Waterloo, Cedar Falls & Northern 5s, 1940, 
Waterloo, Cedar Falls & Northern 6s, 1923, 
Wheeling Terminal 4s, 1940, 
Worcester Consolidated Street 5s, 1927, 



Book Value. 


Rate. 


Market Value. 


81,250 00 


115 


$1,150 00 


10,325 50 


185 


10,915 00 


1,500 00 


233 


2,796 00 


5,200 00 


218 


5,232 00 



1941, 



2,500 00 



92 



2,300 00 



4,812 


50. 


93 


4,650 00 


5,006 


25 


100 


5,000 00 


4,838 


00 


97 


4,850 00 


1,995 


00 


100 


2,000 00 


5,000 


00 


100 


5,000 00 


4,165 


36 


85 


4,292 50 


5,000 00 


100 


5,000 00 


148 


68 


99 4- 


148 68 


10,050 


00 


100 


10,050 00 


4,764 


18 


92 4- 


4,764 18 


20,000 


00 


100 


20,000 00 


842 


50 


87 


870 00 


5,180 


00 


101 


5,050 00 


4,950 


00 


94 


4,700 00 


10,438 


00 


100 


10,000 00 


980 


60 


99 


990 00 


11,331 


00 


104 


10,400 00 


4,866 


00 


94 


4,700 00 


981 


90 


99 


990 00 


3,766 


80 


98 


3,920 00 


5,075 


00 


100 


5,000 00 


2,949 


00 


100 


3,000 00 


2,021 


00 


100 


2,000 00 


1,928 


20 


94 


1,880 00 


957 


50 


96 


960 00 


17,000 


00 


100 


17,000 00 


5,000 


00 


101 


5,050 00 


4,890 


50 


99 


4,950 00 


950 


00 


97 


970 00 


950 


00 


95 


950 00 


948 


75 


94 


940 00 


1,516 88 


97 


1,455 00 


4,862 


00 


96 


4,800 00 


3,021 


00 


100 


3,000 00 


5,013 


75 


96 


4,800 00 


4,269 


00 


90 


4,500 00 


4,747 


00 


94 


4,700 00 


4,735 


00 


87 


4,350 00 


1,790 


00 


69 


1,380 00 


9,400 


00 


89 


8,900 00 


5,427 


50 


92 


4,600 00 


3,450 


00 


64 


3,200 00 


4,486 


25 


78 


3,900 00 


3,550 


00 


70 


3,500 00 


5,026 


25 


90 


4,500 00 


4,987 


50 


102 


5,100 00 


500 


00 


90 


450 00 


3,450 


00 


62 


3,100 00 


5,000 


00 


101 


5,050 00 


3,500 


00 


65 


3,250 00 


1,003 


75 


102 


1,020 00 


4,010 


00 


103 


4,120 00 


4,962 


50 


94 


4,700 00 


3,442 


50 


81 


3,240 00 


5,001 


25 


100 


5,000 00 


5,027 


50 


102 


5,100 00 


2,650 


00 


40 


2,000 00 


4,000 


00 


70 


3,500 00 


1,100 


00 


44 


880 00 


100 


00 


44 


44 00 


1,870 


00 


78 


1,560 00 


4,000 


00 


60 


3,000 00 



22 



BOSTON MANUFACTURERS MUTUAL FIRE INSURANCE CO. 



Miscellaneous Bonds. 
Adams Express 4s, 1947, .... 
American Telephone & Telegraph 4s, 1929, 

Atlantic Fruit 7s, 1934 

Bethlehem Steel 7s, 1927, .... 
Cleveland Electric 111., 7s, 1935, 
Commonwealth Edison 5s, 1943, 
Consumers Power 5s, 1936, 
First Cong'l Parish, Pittsfield, 5£-6s, demand, 
Pittsfield Coal Gas 5§-7s, demand, 
Pittsfield Electric 7s, demand, . 

Union Tank 7s, 1930 

United States Envelope notes, 7s, 1923, 
United States Rubber 7§s, 1930, 
United States Steel 5s, 1963, 



Book Value. 


Rate. 


Market Value. 


$6,300 00 


60 


00 00 


8,400 00 


81 


8,100 00 


4,825 00 


85 


4,250 00 


4,918 75 


100 


5,000 00 


4,775 00 


99 


4,050 00 


3,097 50 


87 


10 00 


1,800 00 


87 


1,740 00 


5,000 00 


100 


."..000 00 


5,000 00 


100 


5,000 00 


10,000 00 


100 


10,000 00 


4,800 00 


101 


5,050 00 


4,925 00 


99 


4,950 00 


4,912 50 


99 


4,950 00 


9,781 74 


98 


9,800 00 


$403,820 42 


$397,471 86 



BOSTON MANUFACTURERS' MUTUAL FIRE INSURANCE COM- 
PANY, BOSTON. 

Incorporated March 15, 1850. Commenced business Oct. 15, 1850. 
JOSEPH P. GRAY, President. H. DWIGHT HALL, Secretary. 

Office, 31 Milk Street. 



Income. 

Net fire premiums, . . .... 

Gross interest on bonds, $260,358.07; bank deposits, §19,057.26 

all other, $70.34, . . 

Gross profit on sale or maturity of bonds, 
Gross increase in book value of bonds, 
Refund of federal tax, .... 

Canadian exchange, .... 

Total income, 
Ledger assets, Dec. 31, 1919, . 

Total, 



$5,267,084 97 

279,485 67 

3,387 50 

750 00 

3 72 

1,762 50 

$5,552,474 36 
, 5,538,472 56 

$11,090,946 92 



Disbursements. 

Net amount paid policy holders for fire losses, . 
Agents' compensation, ..... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Inspection department, for inspections, maps, plans 
ment of losses, . . . . . 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of bonds, 



and adjust- 



$193,892 10 

42 50 

108,462 31 

6,752 86 

611 41 

86,822 40 

8,801 09 

16,296 10 

6,077 56 

547 80 

15,563 46 

3,934,550 79 

750 00 

3,387 50 



BOSTON MANUFACTURERS' MUTUAL FIRE INSURANCE CO. 23 

Traveling expenses, ........ $6,533 72 

All other disbursements, ....... 924 07 

Total disbursements, $4,390,015 67 

Balance, $6,700,931 25 

Ledger Assets. 

Book value of bonds (Schedule A), $5,932,026 52 

Cash in office, . . . 816 44 

Deposits in trust companies and banks on interest, . . . 532,867 68 

Premiums in course of collection, ...... 235,220 61 



Total ledger assets, .... 


. $6,700,931 25 


Non-Ledger Assets. 
Interest accrued on bonds, .... 


86,481 72 


Gross assets, ...... 


. $6,787,412 97 


Assets not admitted. 




Premiums over three months due, . 
Book value of bonds over market value, 
Discount on Canadian bank deposits, 


$2,172 46 
383,436 44 
5,487 28 391,096 18 



Admitted assets, ........ $6,396,316 79 

Liabilities. 

Unpaid losses, $59,699 98 

Unearned premiums on outstanding risks, .... 3,262,407 05 

Salaries, expenses and accounts due or accrued, . . . 2,568 00 

Federal, state and other taxes due or accrued, .... 24,427 00 

Total, $3,349,102 03 

Surplus to policy holders, 3,047,214 76 

Total liabilities, including surplus, $6,396,316 79 

Risks and Premiums. 

Fire risks: Risks. CashPrem's. Conting't Prem's. 

In force Dec. 31, 1919, . . $748,496,500 00 $5,255,012 43 $26,275,062 15 

Written during the year, . 775,350,752 00 5,505,281 86 27,526,409 30 



Total, . . . $1,523,847,252 00 $10,760,294 29 $53,801,471 45 

Expired and terminated, . 633,511,475 00 4,514,594 16 22,572,970 80 



In force at end of year, . . $890,335,777 00 $6,245,700 13 $31,228,500 65 

Miscellaneous. 
Net premiums received from organization of company, . $66,072,858 03 

Net losses paid from organization of company, . . . 7,458,660 04 

Cash dividends paid policy holders from organization of company, 50,292,686 18 
Dividends to policy holders during 1920: 94, 88 and 80 per cent. 
Losses incurred during the year: wind storms and tornadoes, 
$4,542.44; sprinkler leakage, $16,778.32. 



24 BOSTON manufacturers' mutual fire INSURANCE CO. 



Schedule A. Bonds owned by the Company. 



Government Bonds. 
Canada h\s, 1923, . 
Canada 5|s, 1929, . 
Canada 5*s, 1934, . 
United States 4}s, 1942, op. 1927, 
United States 4Js, 1928, . 
United States 4 is, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States 4 is, 1928, . 
United States 4 is, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

State Bonds. 
Manitoba 6s, 1930, . 
Manitoba 6s, 1925, . 
Massachusetts 3§s, 1935, 
Massachusetts 3?s, 1938, 
Massachusetts 3s, 1927, 
Massachusetts 3s, 1941, 
Massachusetts 3s, 1939, 
New York tax exempt 4s, 1961, 
New York tax exempt 4§s, 1963, 
Ontario 6s, 1927, 

Railroad Bonds. 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Atch., Top. & Santa Fe (R. Mt. Div.) 4s, 1965, 
Baltimore & Ohio prior lien 33s, 1925, 
Baltimore & Ohio equip. 4|s, 1926, 
Bait. & Ohio (P., L. E. & W. V. Div.) 4s, 1941, 
Baltimore & Ohio 6s, 1929, 
Boston & Albany 3 5 s, 1952, 
Boston & Albany 5s, 1963, 
Boston Elevated 4£s, 1937, 
Boston & Maine 4^s, 1944, 
Boston & Maine 4s, 1926, 
Boston & Maine 6s, 1930, 
Boston & New York Air Line 4s, 1955, 
Central New England 4s, 1961, . 
Chicago, Burl. & Quincy gen. 4s, 1958, 
Chicago, Burl. & Quincy (111. Div.) 3§s, 1949, 
Chicago, Burl. & Quincy (Neb. Ext.) 4s, 1927, 
Chicago, Milwaukee & St. Paul 4s, 1925, 
Chicago, Milwaukee & St. Paul deb. 4s, 1934, 
Chicago, Milwaukee & St. Paul gen. 4s, 1989, 
Chicago Union Station 4 Is, 1963, 
Chicago & Northwestern gen. 4s, 1987, 
Chicago & Northwestern gen. 5s, 1987, 
Chicago & Northwestern coll. trust 4s, 1926, 
Chicago & "Western Indiana 4s, 1952, 
Delaware & Hudson ref. 4s, 1943, 
Delaware & Hudson conv. 5s, 1935, 
Detroit Terminal & Tunnel 4 5 s, 1961, 
Dutchess County 4|s, 1940, 
Fitchburg 3§s, 1921, 
illinois Central sterling 3 Is, 1950, 
Illinois Central coll. trust 4s, 1952, 
Illinois Central ref. 4s, 1955, 
Illinois Central 51s, 1934, . 
Kansas City Terminal 6s, 1923, 
Lehigh Valley 6s, 1928, . 
Lexington & Eastern 5s, 1965, . 
Long Island ref. 4s, 1949, . 
Louisville & Nashville 5s, 1931, 
Michigan Central (Grand River) 1st 4s, 1959, 
Michigan Central (Jol. & N. Ind.) 1st 4s, 1957, 
Michigan Central equip. 6s, 1924, 
Milwaukee, Sparta & Northwestern 4s, 1947, 
Minn., St. Paul & S. Ste. Marie 4s, 1938, . 
New York Cent. & Hudson Riv. deb. 4s, 1934, 
New York Central cons. 4s, 1998, 



Book Value. 

$49,050 00 

72,750 00 

23,250 00 

50,000 00 

100,000 00 

100,000 00 

50,000 00 

220,504 40 

179,600 05 

240,271 8b 



00 
25 

00 
00 
50 
00 



46,445 
46,181 
147,847 
35,000 
32,074 
13,198 
44,215 
50,000 00 
50,000 00 
94,540 00 

44,500 00 
43,750 00 
55,800 00 

45.374 40 
42,750 00 
48,250 00 
43,500 00 
60,000 00 
50,000 00 
40,000 00 
42,000 00 
12,500 00 
33,325 
59,750 
47,750 
36,687 
91,593 
4b. 12.3 
23,750 
25,000 00 
50,000 00 
47,412 50 
58,446 25 
91,875 00 
40,000 00 
49,937 50 
48,800 00 
28,875 00 
42,000 00 
61,350 00 
39,400 50 
30,000 00 
50.000 00 
48,875 00 
50,000 00 
49,125 00 
50,000 00 
49,500 00 
50,000 00 

24.375 00 
49,375 00 
25,000 00 
65,123 75 
46,500 00 
78,500 00 

102,012 50 



00 
00 
00 
50 
75 
00 
00 



Rate. 
100 
07 
100 
100 
100 
100 
100 

894- 

964- 

98 
99 
88 
87 
90 
79 
80 
98 
107 
97 

81 
76 
87 
93 
69 
94 
68 
89 
70 
64 
78 
75 
69 
60 
83 
78 
93 
83 
70 
74 
85 
81 
99 
88 
64 
84 
92 
81 
78 
96 
73 
77 
80 
94 
98 
100 
91 
76 
96 
71 
74 
99 
80 
85 
83 
73 



Market Value. 

$50,000 00 

72,750 00 

25,000 00 
50,000 00 
100,000 00 
100,000 00 
50,000 00 
220,504 40 
179,605 05 
240,271 8b 



49,000 00 
49,500 00 
145,200 
30,450 
31,500 
11,850 
40,000 
49,000 
53,500 



00 
00 
00 
00 

00 
00 
00 



97,000 00 

40.500 00 
38,000 00 
52,200 00 
40.500 00 
34,500 00 
47,000 00 
34,000 00 
53,400 00 
35,000 00 
32,000 00 
39,000 00 
9,375 00 
24,150 00 
48,000 00 
41,500 00 
39,000 00 
93,000 00 
41,500 00 
17.500 
18,500 
42,500 
40,500 
59.400 
88,000 00 
32,000 00 
42,000 00 
46,000 00 
24,300 00 
32,760 00 
62,400 00 
25,823 75 
23,100 00 
40,000 00 
47,000 00 
49,000 00 
50,000 00 
45,500 00 
38,000 00 
48.000 00 
17,750 00 
37,000 00 
24.750 00 
60,000 00 
42,500 00 
66.400 00 
87,600 00 



00 
00 
00 
00 
00 



CAMBRIDGE MUTUAL FIRE INSURANCE CO. 



25 



New York Central equip. 4|s, 1925, . 

New York, New Haven & Hartford 3§s, 1947, 

New York, New Haven & Hart. conv. 6s, 1948, 

New York, Philadelphia & Norfolk 1st 4s, 1939, 

New York, Westchester & Boston 4§s, 1946, 

No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Old Colony 4s, 1924, 

Old Colony 4s, 1938, 

Oregon Short Line 4s, 1929, 

Paducah & Illinois 1st 4^s, 1955, 

Pennsylvania Co. 4£s, 1921, 

Pennsylvania Co. trust certificates 4s, 1952, 

Pennsylvania (Allegheny Valley) 1st 4s, 1942, 

Pennsylvania cons. 4s, 1948, 

Pennsylvania gen. 4^s, 1965, 

Pennsylvania gen. 5s, 1968, 

Rome, Watertown & Ogdensburg 5s, 1922, . 

Seaboard Air Line equip. 6s, 1925-26, 

St. Paul, Minn. & Manitoba 4s, 1933, 

Terminal Association of St. Louis 4s, 1953, 

Union Pacific 6s, 1928 

Union Pacific 1st lien and ref. 4s, 2008, 
United New Jersey R.R. and Canal 4s, 1944, 
West Shore 4s, 2361, .... 

Miscellaneous Bonds. 
American Telephone & Telegraph 4s, 1929, 
American Telephone & Telegraph 6s, 1924, 
Brooklyn Edison gen. 7s, 1940, . 
Cons. Gas, Elec. Lt. & Pwr., Bait., 4|s, 1935, 
Consolidated Power, Baltimore, 6s, 1922, 
Detroit Edison 5s, 1940, . 
New England Power 1st 5s, 1951, 
Union Tank Car equip. 7s, 1930, 
United Electric Light 6s, 1923, . 
Webster & Southbridge Gas & Elec. 6s, 1921, 
Western Electric 7s, 1925, 



96 
25 
00 
00 
50 
00 



Book Value. 

$23,330 00 

15,000 00 

50,000 00 

35,000 00 
33,414 

144,656 
50,000 
50,000 
41,687 
50,000 

126,968 75 

29,175 00 

48,750 00 

49,375 00 

98,862 50 

95,750 00 

50,000 00 

46,780 00 

73,406 25 

49,000 00 

49,125 00 

38,218 75 

50,000 00 

46,000 00 

117,867 50 
178,650 00 
48,687 50 
46,500 00 
24,375 00 
25,000 00 
84,250 00 
48,000 00 
49,250 00 
50,000 00 
49,125 00 

$5,932,026 52 



Rate. 
94 
52 
84 
81 
50 
97 
93 
80 
84 
84 

100 
83 
85 
88 
88 
94 
99 
99 
89 
76 

102 
80 
88 
77 

81 
97 
97 
79 
96 
87 
88 

101 
98 

100 
99 



Market Value. 

$23,500 00 
10,400 
42,000 
28,350 
25,000 

145,500 
46,500 
40,000 
42,000 
42,000 

130,000 
24,900 
42,500 
44,000 
88,000 00 
94,000 00 
49,500 00 
49,500 00 
66,750 00 
38,000 00 
51,000 00 
40,000 00 
44,000 00 
38,500 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



105,300 

174,600 
48,500 
39,500 
24,000 
21,750 
88,000 
50,500 
49,000 00 
50,000 00 
49,500 00 

$5,548,590 08 



00 
00 
00 
00 
00 
00 
00 
00 



CAMBRIDGE MUTUAL FIRE INSURANCE COMPANY, ANDOVER. 

Incorporated March 13, 1833. Commenced business Jan. 1, 1834. 
BURTON S. FLAGG, President. FREDERIC G. MOORE, Secretary. 

Income . 
Net fire premiums, 



Gross interest on stocks and bonds, $2,425.47; lank deposits, 

$745.26; gross rents, $369.34, 

Refund of federal tax, ... .... 

Dividend, National City Bank in liquidation, .... 

From all other sources, ........ 

Total income, ........ 

Ledger assets, Dec. 31, 1919, . . . . ... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, 
Loss adjustment expenses, 
Agents' compensation, including brokerage, 
Agents' allowances, .... 
Field supervisory expenses, 



$64,876 03 

3,540 07 

20 19 

375 00 

24 43 



,835 72 
79,348 31 

$148,184 03 



$14,225 19 

335 89 

9,906 70 

135 84 
388 14 



26 



CAMBRIDGE MUTUAL FIRE INSURANCE CO. 



Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, . . . . . . 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and expr 
Advertising, subscriptions, printing and stationery, . 
Repairs and expenses on real estate, .... 

Taxes on real estate, ....... 

Dividends to policy holders, ...... 

Gross loss on sale or maturity of bonds, .... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 



5,313 21 
267 00 

50 00 
35 00 

25^ 

531 89 

167 39 
283 61 

13 79 

168 44 
7,001 30 

54 25 
236 12 

$39,770 37 

8108,413 66 



Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 



$4,000 00 
4,000 00 

79,886 60 
100 00 

14.540 09 
5,886 97 

$108,413 66 



Xox-Ledger Assets. 

Interest accrued on mortgages, S2; bonds, S936.73; other 

assets, $12.58; rents due on company's property, $140, . . 1,091 31 

Reinsurance recoverable on paid losses, ..... 78 38 

Gross assets, . .- $109,583 35 



Assets not .admitted. 

Agents' balances over three months due, . . $7 85 

Book value of stocks and bonds over market 
value, 522 60 



Admitted assets, 



530 45 



$109,052 90 



Liabilities. 

Unpaid losses, $3,592.57; less recognized reinsurance, $568.51, . $3,024 06 

Unearned premiums on outstanding risks, .... 58,992 33 

Dividends due policy holders, ...... 693 96 

Salaries, expenses and accounts due or accrued, . . . 133 76 

Federal, state and other taxes due or accrued, .... 626 74 

Total, $63,470 85 

Surplus to policy holders, ....... 45,582 05 

Total liabilities, including surplus, ..... $109,052 90 



CAMBRIDGE MUTUAL FIRE INSURANCE CO. 



21 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$8,303,589 00 
8,277,699 00 



In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 



Cash Prem's. Conting't Prem's. 

112,079 07 $112,079 07 
99,653 08 99,653 08 



$16,581,288 00 
5,966,394 00 

$10,614,894 00 

2,077,627 00 



$211,732 15 $211,732 15 
70,033 15 70,033 15 



$141,699 00 $141,699 00 
29,276 58 



;,537,267 00 $112,422 42 



Miscellaneous. 
Net premiums received from organization of company, . . $2,558,002 47 

Net losses paid from organization of company, . . . 1,052,463 64 

Cash dividends paid policy holders from organization of company, 916,491 35 
Dividends to policy holders during 1920 : 20 per cent. 



Schedule A. Stocks and Bonds owned by the 



Bank Stocks. 
20 shares First National, Boston, 
20 " National Shawmut, Boston, 
10 " Old Colony Trust, Boston, . 

Government Bonds. 
United States 4fs, 1923, op. 1922, 
United States 4fs, 1938, op. 1933, 

United States 4Js, 1928, 

United States 4Js, 1942, op. 1927, 

United States 41s, 1947, op. 1932, . 

United States War Savings Stamps (issue of 1918), 

United States War Savings Stamps (issue of 1919), 

County and Municipal Bonds. 
Cleveland, O., sewer 4|s, 1931, . 
Kansas City, Mo., 4§s, 1930, 
Leominster, Mass., water 4s, 1925, 
Madison, Wis., 4§s, 1925, . 
Minneapolis, Minn., 4s, 1941, 
Omaha, Neb., water 4^s, 1941, . 
San Diego, Cal., 5s, 1925, 
San Diego, Cal., 4$s, 1929, 
San Francisco, Cal., city and county 5s, 1932, 

Railroad Bonds. 
Boston & Albany imp. 4s, 1934, 
Chicago Railways 1st 5s, 1927, . 
Chicago & Northwestern ext. 4s, 1926, 
Maine Central ref. 4|s, 1935, 
Old Colony 4s, 1925, 

Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 5s, 1946, 
American Tel. & Tel. coll. trust 4s, 1929, 
Buffalo General Electric 7s, 1925, 
Detroit Edison 1st 5s, 1933, 
Detroit Edison 6s, 1940, . 
General Electric 6s, 1940, . 
New England Tel. & Tel. 5s, 1932, 
New York Telephone 6s, 1949, . 
Portland General Electric 1st 5s, 1935 
Southern California Edison 6s, 1944, 
Western Electric 7s, 1925, 
Westinghouse Electric & Mfg. deb. 7s, 1931, 



Book Value. 

$5,810 00 
4,495 00 
2,255 00 

3,000 00 
3,000 00 
3,000 00 
3,000 00 
3,000 00 
832 00 
824 00 



Company. 

Rate. Market Value. 

310 $6,200 00 

266 5,320 00 

260 2,600 00 



1,988 
2,047 
2,928 
2,017 
953 
2,000 
2,035 
1,023 
2,036 



00 
50 
75 
50 
75 
00 
00 
70 
40 



990 00 
970 00 

1,895 00 
997 50 

2,000 00 



980 
1,700 
2,925 
2,020 
1,780 
2,835 
2,966 
1,010 
3,000 
1,760 
2,973 
2,837 



00 
00 
00 
00 
00 
00 
25 
00 
00 
00 
75 
50 



100 
100 
100 
100 
100 



95 
97 
98 
98 
90 
95 

101 
97 

101 

84 
75 
88 
86 
92 

86 
81 
98 
94 
89 
98 
89 
96 
85 
93 
99 
95 



3,000 00 
3,000 00 
3,000 00 
3,000 
3,000 

894 

870 



00 
00 
00 
00 



1,900 00 
1,940 00 
2,940 
1,960 

900 
1,900 
2,020 

970 
2,020 



00 
00 
00 
00 
00 
00 
00 



840 00 
750 00 

1,760 00 
860 00 

1,840 00 



860 
1,620 
2,940 
1,880 
1,780 
2,940 
2,670 

960 
2,550 
1,860 
2,970 
2,850 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



$79,886 60 



$79,364 00 



28 



CITIZENS MUTUAL INSURANCE CO. 



CITIZENS' MUTUAL INSURANCE COMPANY, CONCORD. 

Incorporated March 7, 1846. Commenced business Oct. 6, 1846. 
GEO. W. HINCKLEY, President. ELIOT R. "HOWARD, Secretary. 

Income. 

Net fire premiums, $85,380.21; marine, $18,719.72, . . 8104,099 93 
Gross interest on mortgages, S305.04; collaterals, $171.96; stocks 

and bonds, $3,310.09; bank deposits, S317.03, . . 4,104 12 

Gross profit on sale or maturity of bonds, . . . . 52 10 

Borrowed money, ......... 2,000 00 

Profit and loss, . . . . . . . . . ' 80 37 

Total income, $110,336 52 

Ledger assets, Dec. 31, 1919, 98,138 44 

Total, $208,474 96 

Disbursements. 
Net amount paid policy holders for fire losses, $23,690.04; 

marine, $4,485.15, \175 19 

Loss adjustment expenses, . . . . . . . 521 89 

Agents' compensation, including brokerage, . . . 23,768 20 

Agents' allowances, . . . . . . . 117 94 

Field supervisory expenses, . . . . . . 327 7 

Salaries and fees of directors, officers and clerks, . . . 5,177 31 

Rents, 148 28 

Inspections, surveys, underwriters' boards and tariff associations, 1,462 97 

Federal taxes, " 979 06 

Other taxes, licenses and fees, . . . . . 4^3 90 

Postage, telegraph, telephone, exchange and express, . . 101 72 

Advertising, subscriptions, printing and stationery, . . 532 66 

Agents' balances charged off, . . . . . . . 15 50 

Dividends to policy holders, 10,213 90 

Borrowed money repaid," ....... 2,000 00 

Interest on borrowed money, ....... 2 33 

Total disbursements, ....... -S74.02S 5S 

Balance, $134,446 38 

Ledger Assets. 

Mortgage loans on real estate, ...... $7,325 00 

Loans secured by collateral (endowment policy, ^Etna life), . . 1,481 21 

Book value of stocks and bonds (Schedule A), .... 97,516 07 

Deposits in trust companies and banks on interest, . . . 12.307 77 

Agents' balances, ......... 15.816 33 

Total ledger assets, $134,446 3S 

Nox-Ledger Assets. 

Interest due and accrued on mortgages, $509.2S; bonds, $1,455.3S, 1,964 66 

Equity in endowment policy taken to secure debt, . . . 1.23S 79 



Gross assets, 



$137,649 83 



CITIZENS MUTUAL INSURANCE CO. 



29 



Assets not admitted. 

Agents' balances over three months due, . . $574 42 

Book value of stocks and bonds over market 
value, 8,393 82 



Admitted assets, ....... 

Liabilities. 
Unpaid losses, $6,510.70; less recognized reinsurance, $66.69, 
Unearned premiums on outstanding risks, 
Dividends due policy holders, ..... 

Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 



Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$18,310,239 00 
13,345,629 00 



$8,968 24 
$128,681 59 



$6,444 01 

77,794 08 

461 78 

626 97 

1,000 00 

$86,326 84 
42,354 75 

$128,681 59 



Cash Prem's. Conting't Prem's. 

$200,688 57 $185,828 22 
133,003 06 69,616 02 



In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 

Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



$31,655,868 00 
10,324,565 00 

$21,331,303 00 

9,541,720 00 



$333,691 63 $255,444 24 
104,327 29 68,936 13 



$229,364 34 $186,508 11 
101,029 70 



$11,789,583 00 $128,3.34 64 



$569,486 00 
1,310,506 00 

$1,879,992 00 
798,842 00 

$1,081,150 00 

241,078 00 

$840,072 00 



$12,042 21 
28,137 40 

$40,179 61 
16,060 23 

$24,119 38 

5,880 65 

$18,238 73 



$2,924 80 
7,773 54 

$10,698 34 
4,164 29 

$6,534 05 



Miscellaneous. 
Net premiums received from organization of company, . . $3,253,472 93 

Net losses paid from organization of company, . . . 1,149,749 45 

Cash dividends paid policy holders from organization of company, 1,513,356 98 
Dividends to policy holders during 1920: 20, 15 and 10 per cent. 
Net premiums written during the }^ear: motor vehicles, $18,719.72 ; 

wind storms and tornadoes, $233.09; explosion, $13.54. 
Losses incurred during the year: motor vehicles, $4,718.27; wind 

storms and tornadoes, $87.71; explosion, $0.33. 



30 



COTTON AND WOOLEN MANUFACTURERS' MUTUAL INS. CO. 



Schedule A. Stocks and Bonds 

Railroad Stocks. 
35 shares Massachusetts Electric, preferred, 
38 Pere Marquette, preferred, . 

19 " Pere Marquette, common, . 

Miscellaneous Stocks. 
30 shares Howes Brothers, 1st preferred, 
16 Old Bay State Insurance Co., 

Government Bonds. 
Belgium 6s, 1925, 
British Government 5js, 1921, 
British Government 5%s, 1922, 
Canada 5s, 1926, 
Canada 5s, 1931, 
Switzerland S^s, 1929, 
United States *3 is, 1947, op 1932, 
United States 4Js, 1942, op. 1927, 
United States 4is, 1938, op. 1933, 
United States 4is, 1938, op. 1933, 

Municipal Bonds. 
Ottawa, Ont., deb. 5s, 1945, . 

Railroad Bonds. 
Boston & Albany, ref. 5s, 1963, . . . . 

Boston Elevated 5s, 1942, . . . . 

Boston & Maine 6s, 1930, . 

Chicago, Indiana & Southern 1st 4s, 1956, . 
Chicago Jet. & Union Stk. Yds. coll. tr. 5s, 1940, 
Detroit Terminal & Tunnel 1st 4§s, 1961, . 
Fitchburg 5s, 1934, ...... 

Interborough Rapid Transit 5s, 1966, 
New York, New Haven & Hartford 4s, 1947, 
North. Pac.-GU Nor. (C..B.& Q. coll.) 4s, 1921, 
Pere Marquette 1st 5s, 1956, 

Miscellaneous Bonds. 
American Tel. & Tel. 6s, 1922, 
American Tel. & Tel. 6s, 1925, 
American Tobacco 7s, 1923, 
Brown Co. 6s, 1921, 
Consumers Power 5s, 1936, 
Detroit Edison 1st and ref. 5s, 1940, 
Minneapolis General Electric 5s, 1934, 
Ohio State Telephone 5s. 1944, 
Southern Power 1st 5s, 1930", 
Swift & Co. 1st 5s, 1944, . 
Utica Gas & Electric 7§s, 1925, 
Western Electric 7s, 1925, 



OWNED B"i 


THE 


Company. 


Book Value. 


Rate. 


Market Value. 


' - • 


75 


11 


$3- 


1,322 


69 




2.204 00 


244 


94 


25 


475 00 


2,880 


00 


BO 


2,670 00 


5,120 


00 


320 


5,120 00 


2,872 


50 




2.760 00 




00 


99 


990 00 


2,940 


00 


97 


2,910 00 


971 


30 


94 


940 00 


1,898 




94 


1,880 00 


2,887 


50 


91 


2,730 00 


1,000 


00 


100 


1,000 00 


500 


00 


100 


500 00 


3,050 


00 


100 


3.050 00 


4,301 


25 


86 + 


4.301 25 


1,980 00 


87 


1.740 00 


2,137 


50 


89 


1,780 00 


3,000 


00 


76 


2,280 00 


2,500 


00 


75 


1,875 00 


2,000 


00 




1.520 00 


990 


00 


B8 


880 00 


2,887 


50 


81 


130 00 


980 


00 


80 


800 00 




50 


62 


620 00 


6,000 


00 




3.480 00 




75 




2.910 00 


950 


59 


86 


1,032 00 


4,780 


50 


98 


4,900 00 


2,899 


50 


100 


3,000 00 


4,000 


00 


102 


- 


3,000 


00 


100 


3.000 00 


4.245 


00 


-7 


4,350 00 


1,970 


00 


-7 


1.740 00 


2,015 


00 


B8 


1.760 00 


1,870 


00 


77 


1.540 00 


1.750 


00 


90 


1>00 00 


1,920 


00 


90 


I.nOO 00 


2,925 


00 


• 


2.940 00 


4,937 


50 


99 


4.950 00 


897,516 


07 


$89,122 25 



COTTON AND WOOLEN MANUFACTURERS' MUTUAL INSURANCE 
COMPANY OF NEW ENGLAND. 

Incorporated Oct. 19, 1875. Commenced business Oct. 20, 1S75. 
EUGENE H. CLAPP, President. BENJAMIN TAFT. Secretary. 

Office. 31 Milk Street, Boston. 

Income. 

Net fire premiums, SI, 052, 965 91 

Gross interest on bonds. S47.SS0.22; bank deposits, §3,004.54. 50,884 
Gross profit on sale or maturity of bonds, 590 3 



Total income, 
Ledger assets, Dec. 31, 1919, 



. SI, 104.441 50 
. 1,155,725 04 



Total, $2,260,166 54 



COTTON AND WOOLEN MANUFACTURERS' MUTUAL INS. CO. 31 



Disbursements. 

Net amount paid policy holders for fire losses, .... $55,422 73 

Agents' compensation, 79 50 

Field supervisory expenses, 2,181 43 

Salaries and fees of directors, officers and clerks, .... 20,042 23 

Rents, 2,267 70 

Furniture and fixtures, . 554 72 

Inspection department, for inspections, maps, plans and adjust- 
ment of losses, 19,943 45 

Federal taxes, 2,709 62 

Other taxes, licenses and fees, 4,270 04 

Postage, telegraph, telephone, exchange and express, . . . 1,027 46 

Legal expenses, 340 71 

Advertising, subscriptions, printing and stationery, . . . 3,000 48 

Dividends to policy holders, 776,269 84 

Gross loss on sale of bonds, 5,162 87 

Gross decrease in book value of bonds, 47 50 

All other disbursements, 716 

Total disbursements, $893,327 44 

Balance, $1,366,839 10 

Ledger Assets. 

Book value of bonds (Schedule A), . . . . * . . . $1,166,349 60 

Cash in office, 288 29 

Deposits in trust companies and banks on interest, . . . 140,342 45 

Premiums in course of collection, 59,858 76 

Total ledger assets, $1,366,83910 

Non-Ledger Assets. 

Interest due and accrued on bonds, . 17,384 51 

Gross assets, $1,384,223 61 

Assets not admitted. 
Premiums over three months due, . . . $1,219 36 
Overdue and accrued interest on bonds in de- 
fault, 1,687 50 

Book value of bonds over market value, . . 101,295 85 

Discount on Canadian bank deposits, . . 2,041 64 106,244 35 

Admitted assets, $1,277,979 26 

Liabilities. 

Unpaid losses, $12,742 00 

Unearned premiums on outstanding risks, 646,842 37 

Salaries, expenses and accounts due or accrued, .... 806 86 

Federal, state and other taxes due or accrued, .... 4,434 50 

Total, $664,825 73 

Surplus to policy holders, 613,153 53 

Total liabilities, including surplus, $1,277,979 26 



32 



COTTON AND WOOLEN MANUFACTURERS MUTUAL INS. CO. 



Risks and Premiums. 

Risks. Cash Prem's. 

8134,788,477 00 $1,056,891 31 
141,503,517 00 1,112,747 82 



Conting't Prem'e. 

$5,284,456 55 

5,503,739 10 



8276,291,994 00 
117,572,007 00 



§2,169,639 13 $10,848,195 65 
937,610 67 4,688,053 35 



S6,160,142 30 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 8158,719,987 00 81,232,028 46 

Miscellaneous. 
Net premiums received from organization of company, . $14,864,70 ; 

Net losses paid from organization of company, . . . 2,044,949 96 

Cash dividends paid policy holders from organization of company, 10,609,360 97 
Dividends to policy holders during 1920: 90, 80, 71 and 61 per 

cent. 
Losses incurred during the year: wind storms and tornadoes, 

$606.11; sprinkler leakage, $3,674.84. 



Schedule A. Bonds owned by the Company. 



1932, 
1932, 
1927, 



1933, 



Government Bonds. 
Belgium 7§s, 1945, . 
British government 5fs, 1929, . 
Canada 5s, 1937, 
Canada 5§s, 1929, . 
French Republic 8s, 1945, 
Sweden 6s, 1939, 
United States 3§s, 1947, op. 
United States 3§s, 1947, op. 
United States 4Js, 1942, op. 
United States 4Js, 1928, . 
United States 4 is, 1928, . 
United States 4Js, 1938, op. 
United States 4Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States 4fs, 1923, op. 1922, 

State, County and Municipal Bonds. 
Belzoni Drainage District, .Miss., 6s, 1932, 
Cook County, 111., 4s, 1925, 
Copenhagen, Denmark, 5^8, 1944, 
Manitoba 6s, 1925, . 
Manitoba 6s, 1930, . 
Massachusetts 3^s, 1933, . 
Massachusetts 3|s, 1935, . 
Massachusetts 3^s, 1940, . 
New Brunswick 51s, 1929, 
Ontario 6s, 1928, 
Toronto, Ontario, 4£s, 1953, 

Railroad Bonds. 
Atch., Top. & St. Fe (E. Okla. Div.) 4s, 1928, 
Aurora, Elgin & Chicago 5s, 1946, 
Baltimore & Ohio prior lien 3§s, 1925, 
Baltimore & Ohio 1st 4s, 1948, . 
Baltimore & Ohio ref. and gen. 5s, 1995, 
Baltimore & Ohio 6s, 1929, 
Bangor & Aroostook cons. 4s, 1951, . 
Boston & Albany deb. 4s, 1933, 
Boston & Albany ref. 35s, 1952, 
Boston & Maine 4s, 1926, 
Boston & Maine 4$s, 1929, 
Boston & New York Air Line 4s, 1955, 
Boston & Worcester Street 4§s, 1923, 
Boston Elevated 4s, 1935, 
Canadian Northern notes, 5§s, 1924, . 
Chesapeake & Ohio conv. 5s, 1946, 



Book Value. 

J 5 00 

4,812 50 

9.575 00 

9,800 00 

10,000 00 

4.975 00 

28,000 00 

9,983 12 

40,000 00 

30,000 00 

23.433 75 

90,000 00 

30.752 63 

40,000 00 

19,384 25 

5,000 00 
4.793 75 
1,870 00 

9,584 00 

4. 044 50 
18,000 00 
18.625 00 
20,675 60 

4.725 00 
10,000 00 

3,543 75 



4,750 
4.725 
9.250 
5,000 



00 
00 
00 
00 
00 



16,905 00 



4.250 
4.770 
8,425 
9,643 
9,050 
4,000 
4,675 
6,000 
9.425 
4,500 



00 
00 
00 
75 
00 
00 
00 
00 
00 
00 



Rate. 
100 

93 

96 

97 
102 

94 
100 

99 + 
100 
100 

934- 
100 

874- 
100 

964- 

100 
97 

84 
99 
98 
89 
88 

99 
97 
75 

89 
25 

-7 
76 
77 
94 
52 
^4 
68 
7> 
79 
69 
64 
69 
95 
86 



12 
00 

. 5 



Market Value. 

$10,000 00 

50 00 

9,600 00 

700 00 

10.200 00 

4,70 

28 

9,983 

40,0000 

30,000 

23.433 

'•0 00 
30.752 63 
40,000 00 
19,384 25 

5,000 00 
50 00 
1,68 

9,900 00 
4,900 00 

16,020 00 

17,600 00 

JO 00 

4.950 00 

'0 00 

3,750 00 

230 00 

1.250 00 

4.350 00 

7,600 00 

850 00 

16.920 00 

_ ->0 00 

4,200 00 

10 00 

9,480 00 
_ 760 00 

3.200 00 
4.140 00 
9.500 00 
4,300 00 



COTTON AND WOOLEN MANUFACTURERS MUTUAL INS. CO. 



33 



Chicago, Milw. & St. Paul gen. and ref. 4£s, 2014, 

Chicago, Milw. & St. Paul gen. and ref. 5s, 2014, 

Chicago, Milw. & St. Paul deb. 4s, 1934, 

Chicago Union Station 1st 6£s, 1963, 

Delaware & Hudson 5s, 1935, 

Elizabeth & Trenton 5s, 1962, . 

Fitchburg 4s, 1927, . 

Florida East Coast 4§s, 1959, . 

Grand Trunk deb. 7s, 1940, 

Illinois Central coll. trust 4s, 1953, 

Lake Shore & Michigan Southern 4s, 1931, 

Maine Central 1st and ref. 4£s, 1935, 

Maryland, Delaware & Virginia 5s, 1955, . 

Michigan Central 3^s, 1952, 

Middlesex & Boston Street 4§s, 1932, 

Minn., St. Paul & S. Ste. Marie cons. 4s, 1938, 

Missouri Pacific gen. 4s, 1975, . 

Montreal Tramways 5s, 1941, . 

New York & Putnam 4s, 1993, . 

New York Central equip. 4^s, 1922, 

New York Central equip. 4§s, 1924, 

New York Central cons. 4s, 1998, 

New York Central coll. trust 7s, 1930, 

New York Central & Hud. Riv. deb. 4s, 1934, 

New York Cent. & Hud. R. ref. and imp. 4^s, 2013 

New York, Chicago & St. Louis 4s, 1931, 

New York Connecting 4§s, 1953, 

New York, New Haven & Hartford deb. 4s, 1955 

Northern Maine Seaport 5s, 1935, 

No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Pennsylvania gen. 4|s, 1965, 

Pennsylvania gen. 5s, 1968, 

Richmond-Washington 4s, 1943, 

Rock Island, Arkansas & Louisiana 4§s, 1934, 

St. Joseph Ry., Lt,, Ht. & Pwr. 5s, 1946, . 

Seaboard Air Line cons. 6s, 1945, 

Terre Haute Traction & Light 5s, 1944, 

Waterloo, Cedar Falls and Northern 5s, 1940, 

West End Street 4s, 1932, 

West End Street 5s, 1936, 

Worcester & Holden Street 5s, 1923, . 

Miscellaneous Bonds. 
American Agricultural Chem. conv. deb. 5s, 1924, 
American Tel. & Tel. coll. trust 4s, 1929, 
American Tel. & Tel. coll. trust 5s, 1946, 
American Tel. & Tel. notes, 6s, 1922, 
American Waiting Paper 1st 7s, 1939, 
Bellows Falls Power coll. trust 5s, 1922, 
Bell Telephone, Canada, 7s, 1925, 
Bell Telephone, Penn., 1st and ref. 7s, 1945 
Buffalo General Electric 1st ref. 5s, 1939, 
Conn. River Power, N. H., 5s, 1937, . 
Consumers Power 5s, 1936, 
Denver Gas & Electric Light 5s, 1951, 
Detroit Edison 1st and ref. 5s, 1940, . 
Detroit Edison conv. deb. 7s, 1930, 
Duquesne Light 1st and coll. trust 6s, 1949, 
Edison Electric Illuminating, Boston, 5s, 1922, 
Mississippi River Power 1st 5s, 1951, 
New England Tel. & Tel. deb. 4s, 1930, 
North Boston Lighting Properties 6s, 1922, 
Northern States Power 1st and ref. 5s, 1941, 
Northern Texas Electric 5s, 1940, 
Shawinigan Water and Power 7?s, 1926, 
Swift & Company 5s, 1944, 
Waltham Watch note, 6s, 1924, 
Western Electric 1st 5s, 1922, . 
Western Electric conv. 7s, 1925, 
Western Union Telegraph 4^s, 1950, 
Wisconsin Electric Power 1st 7^s, 1945, 



Book Value. 



00 
00 
00 
00 
00 
00 
00 
50 
00 
00 
00 
00 



50 
00 
50 
60 
40 



$15,975 

6,615 

9,200 

9,850 

5,000 

9,700 

18,000 

4,812 

9,975 

8,600 

14,790 

9,528 

15,000 00 

1,960 00 

9,412 50 

9,293 75 

4,712 

4,925 

4,562 

3,921 

2,918 

12,000 00 

9,000 00 

4,600 00 

4,725 00 

9,262 50 

4,925 00 

20,000 00 

20,000 00 

15,455 00 

14,687 50 

4,437 50 

9,000 00 

4,693 75 

8,505 00 

3,980 00 

5,000 00 

4,437 50 

2,658 75 

10,000 00 

3,000 00 

4,825 00 

23,330 00 

1,960 00 

9,487 50 

5,000 00 

4,787 50 

4,887 50 

9,912 50 

5,000 00 

4,750 00 

9,550 00 

17,390 00 

13,900 00 

5,000 00 

3,000 

9,875 

3.806 

28,000 

5,000 

4,300 

4,800 00 

9,925 00 

5,000 

4,950 

1,992 

9,850 

20,000 00 

12,805 00 

$1,166,349 60 



00 
00 
25 
00 
00 
00 



00 
00 
50 
00 



Rate. 
67 
79 
70 

105 
92 
71 
83 
83 

102 
74 
87 
86 
35 
74 
70 
85 
60 
78 
75 
98 
95 
73 

103 
83 
82 
75 
84 
56 
65 
97 
88 
94 
81 
69 
75 
70 
82 
44 
75 
79 
50 

97 
81 
86 
98 
83 
95 
95 

101 
86 
90 
87 
84 
87 

103 
95 
97 
78 
82 
99 
82 
76 

100 
90 
96 
97 
99 
84 

100 



00 
00 
00 
00 
00 
00 
00 



Market Value. 
$13,400 00 

7,900 00 

7,000 00 
10,500 

4,600 

7,100 
14,940 

4,150 
10,200 

7,400 
14,790 00 
10,320 00 

5,250 00 

1,480 00 

7,000 00 

8,500 00 

3,000 

3,900 

3,750 

3,920 

2,850 
10,950 

9,270 

4,150 

4,100 

7,500 

4,200 
11,200 
13,000 
15,520 
13,200 

4,700 

7,290 

3,450 

6,750 

2,800 

4,100 

2,200 

2,250 

7,900 

1,500 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 



4,850 

19,440 
1,720 
9,800 
4,150 
4,750 
4,750 

10,100 00 
4,300 00 
4,500 00 
8,700 00 

15,960 00 

13,050 00 
5,150 00 
2,850 00 
9,700 
3,900 

22,960 
4,950 
4,100 00 
3,800 00 

10,000 00 
4,500 00 
4,800 00 
1,940 00 
9,900 00 

16,800 00 

13,000 00 

$1,065,053 75 



00 
00 
00 
00 



34 



DEDHAM MUTUAL FIRE INSURANCE CO. 



DEDHAM MUTUAL FIRE INSURANCE COMPANY, DEDHAM. 

Incorporated Feb. 22, 1837. Commenced business July 1, 1837. 
JAMES Y. NOYES, President. THEODORE T. MARSH, Secretary. 



Income. 

Net fire premiums, ........ 

Gross interest on mortgages, §1,098.50; stocks and bonds, 

$7,285.31; bank deposits, $172.99; gross rents, $505.35, 
Gross profit on sale of real estate, .... 

From all other sources, ........ 

Total income, ........ 

Ledger assets, Dec. 31, 1919, ....... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, ..... 

Agents' compensation, including brokerage, 

Agents' allowances, ...... 

Field supervisory expenses, ..... 

Salaries and fees of directors, officers and clerks, 
Rents, ......... 

Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ....... 

Other taxes, licenses and fees, .... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ....... 

Advertising, subscriptions, printing and stationery. 

Repairs and expenses on real estate, 

Dividends to policy holders, ..... 

Gross loss on sale of real estate, .... 

Auditing, ........ 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 



Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 



$50,325 83 

9,062 15 
117 28 
113 21 



$59,618 47 
204,876 57 



8264,495 04 


$13,472 
253 


77 
13 


7,886 33 


61 


97 


201 


37 


7,359 
361 


70 
24 


674 00 


530 


75 


1,072 
385 


78 
97 


434 04 


248 21 


79 


50 


1,246 


50 


190 


17 


17,271 
2,645 


26 

67 


130 00 


17 


00 



$54,522 36 

§209,972 68 



$19,350 00 
178,723 19 
1,083 51 
1,916 14 
5,368 84 
3,531 00 

$209,972 68 



DEDHAM MUTUAL FIRE INSURANCE CO. 



35 



Non-Ledger Assets. 

Interest accrued on mortgages, $217.48; bonds, $2,113.01; other 
assets, $6.89, ......... 

Reinsurance recoverable on paid losses, ..... 



Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . 
Book value of stocks and bonds over market 
value, ....... 



$76 01 
25,512 19 



Admitted assets, . 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, . 

Total liabilities, including surplus, 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$9,789,204 00 
3,639,117 00 



In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



$2,337 38 
2 50 

$212,312 56 



25,588 20 
$186,724 36 



$610 03 

84,843 00 

707 05 

200 00 

400 00 

$86,760 08 

99,964 28 

$186,724 36 



Cash Prem's. Conting't Prem's. 

$157,214 25 $157,214 25 
55,980 00 55,980 00 



$13,428,321 00 
2,817,916 00 

$10,610,405 00 

402,132 00 



$213,194 25 $213,194 25 
43,785 65 43,785 65 



$169,408 60 $169,408 60 
5,928 68 



$10,208,273 00 $163,479 92 



Miscellaneous. 
Net premiums received from organization of company, . . $1,371,256 76 
Net losses paid from organization of company, . . . 469,742 10 

Cash dividends paid policy holders from organization of company, 535,41 1 09 
Dividends to policy holders during 1920 : 20, 30, 40, 50 and 60 per 
cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. Book Value. Rate. Market Value. 

50 shares Atch., Topeka & Santa Fe, common, . $5,248 75 91 $4,550 00 

78 " Atch., Topeka & Santa Fe, preferred, . 1,679 00 82 6,396 00 

50 " Union Pacific, preferred, . . . 3,000 00 70 3,500 00 

Bank Stocks. 

6 shares Dedham National 600 00 140 840 00 

Miscellaneous Stocks. 

39 shares Dedham Water, .... 3,900 00 100 3,900 00 



36 



DORCHESTER MUTUAL FIRE INSURANCE CO. 



Government Bonds. 
United States 3§s, 1947, op. 1932, 
United States 4£s, 1942, op. 1927, 
United States 4is, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

Municipal Bonds. 
Boston, Mass., 4s, 1921, . 
Fall River, Mass., 4s, 1938, 
Jersey City, N. J., 5|s, 1945, 
Kansas City, Mo., 4s, 1930, 
Newton, Mass., 4s, 1935, . 
New York, N. Y., 4*8, 1957, 
Portland, Ore., 4§s, 1943, . 
Stamford, Conn., 4fS, 1941, 

Railroad Bonds. 
Atch., Topeka & Santa Fe gen. 4s, 1995, 
Atch., Topeka & Santa Fe adjust. 4s, 1995, 
Boston & Albany 3§s, 1952, 
Boston & Albany 4s, 1935, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4s, 1937, 
Boston & Maine 4s, 1926, 
Boston & Maine 4|s, 1944, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago, Burl. & Quincy gen. 4s, 1958, 
Chicago, Milwaukee & St. Paul 4s, 1989, 
New London & Northern 4s, 1940, 
New York, New Haven & Hartford 4s, 1947, 
New York, New Haven & Hartford 3?s, 1954, 
New York, New Haven & Hartford 4s, 1955, 
Old Colony 3*s, 1932, .... 
Pennsylvania 4*s, 1965, .... 
Providence Terminal 1st 4s, 1956, 
Rock Island- Frisco Terminal 1st 5s, 1927, . 
St. Johnsbury & Lake Champlain 1st 5s, 1944, 
Union Pacific 4s, 1947, .... 
West End Street 5s, 1936, 

Miscellaneous Bonds. 
New England Tel. & Tel. 5s, 1932, . 



Book Value. 


Rate. 


Market Value. 


$2,000 00 


100 


00 00 


3,000 


00 


100 


3,000 00 


2,000 


00 


100 


2,000 00 


4,000 


00 


100 


4.000 00 


5,000 


00 


100 


5,000 00 


2,040 


00 


100 


2,000 00 


5,131 


25 


91 


4,550 00 


5,137 


50 


103 


5,150 00 


3,602 


40 


93 


3,720 00 


3,578 


00 


92 


3,680 00 


2,060 


00 


100 


2.000 00 


7,800 


00 


95 


7.000 00 


4,931 


00 


98 


4,900 00 


6,240 


00 


81 


6,480 00 


1,720 


00 


76 


3,040 00 


6,197 


50 


68 


4,080 00 


4,850 


00 


82 


4,100 00 


10,225 


00 


77 


8,470 00 


5,560 


00 


66 


3,300 00 


1,022 


72 


78 


780 00 


7,665 


00 


64 


3,840 00 


7,118 


75 


85 


5,950 00 


2,000 


00 


S3 


1,660 00 


4,987 


50 


74 


3,700 00 


4,950 


00 


74 


3,700 00 


5,450 


00 


58 


2,900 00 


1,950 


00 


50 


1.000 00 


3,920 


00 


56 


240 00 


5,150 


00 


79 


3,950 00 


4,912 


50 


88 


4,400 00 


5,087 


50 


72 


3,600 00 


8,400 


00 


84 


6,720 00 


7,147 


50 


40 


2,400 00 


3,423 


12 


85 


2,975 00 


2,038 


20 


79 


1,580 00 


4,000 00 


89 


3,560 00 


§178,723 


19 


$153,211 00 



DORCHESTER MUTUAJ, FIRE INSURANCE COMPANY, BOSTON. 

Incorporated February, 1855. Commenced business July, 1855. 
WILLIAM A. MULLER, President. EDWARD C. MASON, Secretary. 

Office, oo Kilby Street. 

Income. 

Xet fire premiums, ........ $103,963 55 

Gross interest on mortgages, $875.42; stocks and bonds, $13,710; 

bank deposits, $275.70; gross rents, $1,219.75, . . . 16,080 87 

Gross profit on sale of stocks, ...... 34 98 

Borrowed money, ......... 35,000 00 



Total income, 
Ledger assets, Dec. 31, 1919, 



$155,079 40 
226,571 14 



Total, . 



$381,650 54 



DORCHESTER MUTUAL FIRE INSURANCE CO. 



37 



Disbursements. 

Net amount paid policy holders for fire losses, . . . . $31,514 37 

Loss adjustment expenses, ....... 657 45 

Agents' compensation, including brokerage, .... 4,473 62 

Agents' allowances, . . . . . . . . 170 89 

Field supervisory expenses, ....... 300 17 

Salaries and fees of directors, officers and clerks, . . . 14,610 37 

Rents, 1,574 35 

Furniture and fixtures, ........ 25 10 

Maps, including corrections, . . . . . . . 529 68 

Inspections, surveys, underwriters' boards and tariff associations, 911 81 

Federal taxes, ......... 750 07 

Other taxes, licenses and fees, ...... 1,496 88 

Postage, telegraph, telephone, exchange and express, . . 970 62 

Advertising, subscriptions, printing and stationery, . . . 2,650 38 

Agents' balances charged off, ....... 38 37 

Repairs and expenses on real estate, ..... 679 57 

Taxes on real estate, ........ 266 82 

Dividends to policy holders, ....... 25,373 10 

Gross loss on sale of real estate, . . . . . * . 1,800 00 

Borrowed money repaid, ....... 35,000 00 

Interest on borrowed money, . . . . . . . 1,441 67 

Total disbursements, $125,235 29 

Balance, $256,415 25 

Ledger Assets. 

Book value of real estate, ....... $7,288 13 

Mortgage loans on real estate, ...... 17,038 41 

Book value of stocks and bonds (Schedule A), .... 210,25626 

Cash in office, ......... 787 58 

Deposits in trust companies and banks on interest, . • . . 8,639 32 

Agents' balances, ......... 12,405 55 

Total ledger assets, $256,415 25 

Non-Ledger Assets. 

Interest accrued on mortgages, $155.01; bonds, $179.16, . . 334 17 

Market value of real estate over book value, . . . . 211 87 

Market value of stocks and bonds over book value, . . . 54,312 74 

Reinsurance recoverable on paid losses, . . . . . 101 29 

Gross assets, $311,375 32 

Liabilities. 

Unpaid losses, $2,470 ; less recognized reinsurance, $957, . . $1,513 00 

"Unearned premiums on outstanding risks, .... 128,664 18 

Dividends due policy holders, ...... 1,430 67 

Salaries, expenses and accounts due or accrued, . . . 280 00 

Federal, state and other taxes due or accrued, .... 1,500 00 

Total, $133,387 85 

Surplus to policy holders, 177,987 47 



Total liabilities, including surplus, 



$311,375 32 



38 



FALL RIVER MANUFACTURERS' MUTUAL INSURANCE CO. 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$28,817,543 00 
15,127,677 00 



In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 



Cash Prem's. 

$351,901 86 
181,028 06 



Conting't Prem's. 

$351,901 86 

181,028 06 



$43,945,220 00 
11,028,229 00 

$32,916,991 00 

12,207,291 00 



$532,929 92 $532,929 92 
143,523 26 143,523 26 



$389,406 66 $389,406 66 
142,970 26 



$20,709,700 00 $246,436 40 



Miscellaneous. 
Net premiums received from organization of company, . . $5,904,849 02 
Net losses paid from organization of company, . . . 2,799,206 16 

Cash dividends paid policy holders from organization of company, 2,045,115 03 
Dividends to policy holders during 1920: 10 and 20 per cent. 

Schedule A. Stocks and. Bonds owned by the Company. 

Railroad Stocks. 
100 shares Boston & Maine, 
75 " Great Northern, preferred, 
50 " New York, New Haven & Hartford, 
100 " Pennsylvania, .... 

Bank Stocks. 
100 shares First National, Boston, 
513 " International Trust, Boston, 

Miscellaneous Stocks. 
150 shares National Leather, ... 

40 " -Swift & Co 

Government Bonds. 
United States 4Js, 1947, op. 1932, 
United States 4is, 1942, op. 1927, 

United States 4is, 1928 

United States 4|s, 1938, op. 1933, 
United States 4fs, 1923, oprl922, 
United States War Savings Stamps (issue of 1918), 



Book Value. 


Rate. 


Market Value. 


$13,606 07 


35 


$3,500 00 


10,509 


38 


91 


6,b- 


00 


14,028 


25 


35 


1,750 


00 


9,618 00 


91 


4,550 


00 


35,000 


00 


310 


31,000 


00 


82,288 


06 


332 


170,316 


00 


1,342 


50 


132 


1,980 


00 


4,076 


00 


120 


4,800 


00 


14,250 00 


95 


14,250 


00 


4,704 


00 


94 + 


4,704 


00 


5,000 


00 


100 


5,000 


00 


5,000 


00 


100 


5,000 


00 


10,000 


00 


100 


10,000 


00 


834 


00 




894 


00 


$210,256 26 


$264,569 00 



FALL RIVER MANUFACTURERS' MUTUAL INSURANCE COMPANY, 

FALL RIVER. 

Incorporated Feb. 11, 1870. Commenced business May 1, 1870. 
CHARLES S. WARING, President. JAMES W. BRIGHAM, Secretary. 

Office, 84 Xorth Main Street. 

Income. 
Net fire premiums, ........ $1,643,772 S2 

Gross interest on bonds, $75,135.03; bank deposits, $3,329.17; 
aU other, $19.06, • 78,483 26 



Total income, 
Ledger assets, Dec. 31, 1919, . 

Total, . 



$1,722,256 08 
1,6S4,271 60 

83,406,527 68 



FALL RIVER MANUFACTURERS MUTUAL INSURANCE CO. 



39 



Disbursements. 

Net amount paid policy holders for fire losses, . 
Agents' compensation, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Inspection department, for inspections, maps, plans 
ment of losses, ...... 

Federal taxes, ...... 

Other taxes, licenses and fees, . . 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, 

Total ledger assets, .... 





$67,332 02 




85 86 




74 71 




26,049 75 




1,878 46 




688 86 


and adjust- 






25,965 12 


. 


3,249 43 




6,009 29 




739 15 


. 


488 31 




1,681 72 




1,227,149 89 


# 


112 50 




83 90 




$1,361,588 97 




$2,044,938 71 


. $1,838,912 84 


154 92 


137,025 81 




68,845 14 


$2,044,938 71 



Xon-Ledger Assets. 
Interest accrued on bonds, $22,373.34; other assets, $137.20, 

Gross assets, ........ 



22,510 54 
$2,067,449 25 



Assets not admitted. 

Premiums over three months due, . . . $1,063 70 

Book value of bonds over market value, . . 110,276 24 

Discount on Canadian bank deposits, . . 2,591 05 



Admitted assets, 



113,930 99 
. $1,953,518 26 



Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, . 

Total liabilities, including surplus, 



$28,307 21 

1,015,605 46 

207 15 

7,397 56 

$1,051,517 38 
902,000 88 

$1,953,518 26 



40 



FALL RIVER MANUFACTURERS' MUTUAL INSURANCE CO. 



Fire risks: 
In force Dec. 31, 1919, . 

Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. Cash Prem's. 

8223,837,245 00 $1,610,675 42 
239,460,505 00 1,734,196 51 



§463,297,750 00 
195,013,971 00 



§3,344,871 93 
1,418,290 57 



Conting't Prem's. 

Ss.053.377 10 
8,670.' 

816,724,359 65 
7,091,45.' 



8268,283,779 00 81,926,581 36 89,632,906 80 

Miscellaneous. 
Net premiums received from organization of company, . 1,412,057 81 

Net losses paid from organization of company, . . . 2,170,607 15 

Cash dividends paid policy holders from organization of company, 15,068,598 16 
Dividends to policy holders during 1920: 95, 88, 79 and 73 per 

cent. 
Net premiums written during the year: sprinkler leakage, $72. 
Losses incurred during the year: wind storms and tornadoes, 

81,175.62; sprinkler leakage, 86,520.58. 

Schedule A. Bonds owned by the Company. 

Government Bonds 
Canada 5s, 1926, 
Canada 5s, 1937, 

United Kingdom of Gt. Britain & Ireland 53S, 1921 
United States 4 
United States 4 
United States 4 
United States 4 
United States 4 
United States 4 



United States 4Js, 1928, 



United States 4 
United States 4 
United States 4 
United States 4 
United States 4 
United States 4 
United States 4 



s, 1947, op. 1932, 
s, 1942, op. 1927. 
s, 1942, op. 1927, 
s, 1928, . 
s, 1928, . 
s, 1928, . 



1933, 
1933, 
1933, 
1933, 
1933. 



\s, 1928, . 

\s, 1938, op 

\s, 1938, op 

\s, 1938, op 

ts, 1938, op 

\s, 1938, op 

fs, 1938, op.a933, 
United States 4fs, 1923, op. 1922, 

Municipal Bonds. 
Cleveland, O., tax exempt 4s, 1923, 
Newport, R. I., 4s, 1923, . 
New York, N. Y., 4*8, 1962, . 
Taunton, Mass., 4s, 1922, 

Railroad Bonds. 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Baltimore & Ohio conv. <±%s, 1933, 
Boston Elevated 5s, 1942, 
Boston & Maine 6s, 1930, 
Boston & Maine 4s, 1942, 
Boston & Providence deb. 6s, 1923, 
Chic, Burl. & Quincy (Neb. Ext.) 4s, 1927, 
Chic, Milwaukee & St. Paul deb. 4s, 1934, 
Chic, Milwaukee & St. Paul conv. 4§s, 1932, 
Chic, Milwaukee & St. Paul gen. and ref. 4§s, 2014 
Delaware & Hudson 7s, 1930, 
Delaware & Hudson conv. 5s, 1935, 
Erie (Pennsylvania collateral) 4s, 1951, 
Interborough Rapid Transit 5s, 1966, 
Lake Shore & Michigan Southern 4s, 1928, 
Lake Shore & Michigan Southern 4s, 1931, 
Long Island ref. 4s, 1949, . 
Milw., Sparta & Northwestern 4s, 1947, 



Book Value. 


Rate. 


Market Value. 


$14,569 


50 


94 


$14,100 00 


9,573 


37 


96 


9,600 00 


I, 14,775 


00 


99 


14,850 00 


50,000 


00 


100 


50,000 00 


75,000 


00 


100 


75,000 00 


23,290 


00 


93 + 


23,290 00 


35,000 


00 


100 


35,000 00 


76,287 


00 


95 + 


76,287 00 


23,747 


50 


94 + 


23,747 50 


43,312 


50 


88 


44,000 00 


44,570 


00 


89 + 


44,570 00 


100,000 


00 


100 


100,000 00 


46,000 


85 


92 + 


46,000 85 


45,531 


25 


91 + 


45,531 25 


45,042 


50 


90 + 


45,042 50 


43,012 


50 


86 + 


43,012 50 


50,955 


00 


85 


51,000 00 


50,000 


00 


100 


50,000 00 


25,000 


00 


99 


24,750 00 


20,000 


00 


98 


19,600 00 


36.552 


50 


95 


35.150 00 


15,000 


00 


99 


14,850 00 


19,897 


50 


81 


16,200 00 


19,275 


00 


76 


15.200 00 


25,000 


00 


76 


19,000 00 


6,500 


00 


75 


4,875 00 


7,091 


25 


63 


6,300 00 


20,000 


00 


100 


20,000 00 


15,000 


00 


93 


13,950 00 


45,500 


00 


70 


35,000 00 


15,000 


00 


77 


11,550 00 


[, 14,437 


50 


67 


10,050 00 


5,000 


00 


105 


5,250 00 


20,000 


00 


92 


18,400 00 


9,000 


00 


79 


7.900 00 


14,812 


50 


62 


9,300 00 


28,000 


00 


88 


26,400 00 


22,413 


95 


87 


21,750 00 


27,525 


00 


76 


22,800 00 


14,122 


50 


80 


12,000 00 



FITCHBURG MUTUAL FIRE INSURANCE CO. 



41 



New York Central & Hudson River deb. 4s, 1934, 

New York Central cons. 4s, 1998, 

New York Central conv. deb. 6s, 1935, 

New York, New Haven & Hartford deb. 4s, 1956 

No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Northern Pacific equip. 7s, 1929, 

Old Colony 4s, 1938, .... 

Oregon-Washington R.R. & Navigation 4s, 1961, 

Pacific Fruit Express equip. 7s, 1932-33, 

Pennsylvania gen. 4^s, 1965, 

Pennsylvania 7s, 1930, .... 

Philadelphia, Wilmington & Baltimore 4s, 1932, 

Pittsburg, Bessemer & Lake Erie 1st 5s, 1947, 

Southern Pacific conv. 4s, 1929, 

Union Pacific 1st mort. and land grant 4s, 1947, 

West End Street 5s, 1944, 

Miscellaneous Bonds. 
American Tel. & Tel. notes, 6s, 1922, . 
American Tel. & Tel. coll. trust 4s, 1929, . 
American Tel. & Tel. 5s, 1946, . 
Edison Electric Illuminating, Boston, 5s, 1922, 
Edison Electric Illuminating, Boston 7s, 1922, 
General Electric deb. 6s, 1940, . 
New England Tel. & Tel. 5s, 1932, . 
New York Telephone gen. 4£s, 1939, . 
New York Telephone 6s, 1949, . 



Book Value. 
$63,750 00 
12,243 75 
30,000 00 
30,000 00 
44,058 17 

5,000 00 
27,500 00 

9,325 
25,000 
48,950 
14,962 
19,800 
20,000 
13,218 75 
20,000 00 
35,000 00 



00 
00 
00 
50 
00 
00 



19,850 00 
45,000 00 
19,746 
20,000 
9,912 
15,120 
40,000 00 
14,681 25 
20,000 00 

$1,838,912 84 



25 
00 
50 
00 



Rate. 
83 
73 
95 
56 
97 

102 
80 
76 

104 
88 

105 
88 
91 
83 
85 
75 

98 
81 
86 
97 
100 
98 
89 
84 
96 



00 
00 
00 
00 
00 
00 
00 
00 
00 



Market Value. 
$58,100 00 
10,950 00 
28,500 
22,400 
43,650 

5,100 
24,000 

7,600 
26,000 
44,000 
15,750 
17,600 00 
18,200 00 
12,450 00 
17,000 00 
26,250 00 

19,600 00 
40,500 00 
17,200 00 
19,400 00 
10,000 00 
15,680 00 
35,600 00 
12,600 00 
19,200 00 

$1,728,636 60 



FITCHBURG MUTUAL FIRE INSURANCE COMPANY, FITCHBURG. 

Incorporated March 23, 1847. Commenced business Sept. 1, 1847. 
LINCOLN R. WELCH, President. FREDERICK W. PORTER, Secretary. 

Office, 781 Main Street. 

Income. 

Net fire premiums, $555,500.11; marine, $13,036.47, . . $568,536 58 
Gross interest on stocks and bonds, $13,953.56; bank deposits, 
$1,185.11; all other, $1,092.33; gross rents, including $1,500 

for company's own occupancy, $7,108.50, .... 23,339 50 

Total income, . $591,876 08 

Ledger assets, Dec. 31, 1919, 375,102 21 

Total, $966,978 29 

Disbursements. 
Net amount paid policy holders for fire losses, $176,453.17; 

marine, $991.56, $177,44473 

Loss adjustment expenses, ....... 3,428 19 

Agents' compensation, including brokerage, .... 97,374 32 

Agents' allowances, ........ 393 64 

Field supervisory expenses, . . . . . . . 4,797 88 

Salaries and fees of directors, officers and clerks, . . . 30,584 60 

Rents, including $1,500 for company's own occupancy, . . 2,693 81 

Furniture and fixtures, ......... 846 94 

Maps, including corrections, ....... 977 40 

Inspections, surveys, underwriters' boards and tariff associations, 4,814 53 



42 



FITCHBURG MUTUAL FIRE INSURANCE CO. 



Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to policy holders, .... 

Gross decrease in book value of real estate, 
Investment expense, ..... 

Total disbursements, .... 

Balance, ...... 



$4,287 93 

10,424 

2,145 05 

162 46 

5,533 65 

60 80 

3,903 09 

1,380 00 

77,646 62 

1,000 00 

93 75 

$429,994 27 

$536,984 02 



Ledger Assets. 
Book value of real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 



$54,000 00 

373,232 25 

295 75 

54.443 34 

55,012 68 

$536,984 02 



Xon-Ledger Assets. 

Interest accrued on bonds, $4,538.11; rents due on companv's 

property, $326, . 4,864 11 

Reinsurance recoverable on paid losses, ..... 1,524 13 

Gross assets, $543,372 26 



Assets not admitted. 

Book value of stocks and bonds over market 
value, . "V . . . . $10,715 55 

Discount on Canadian bank deposits and ac- 
counts, 401 22 

Difference between reinsurance controlling ac- 
count and balance of individual accounts, . 3 54 



Admitted assets, 



11,120 31 
$532,251 95 



Liabilities. 

Unpaid losses, $34,076.41; less recognized reinsurance, $2,636.03, $31,440 38 

Unearned premiums on outstanding risks, .... 327,627 42 

Dividends due policy holders, . . . . . 2,575 19 

Salaries, expenses and accounts due or accrued, . . 1,414 76 

Federal, state and other taxes due or accrued, .... 7,502 52 

Contingent and unpaid commissions due or accrued, . . . 3,057 81 

Total, $373,618 08 

Surplus to policy holders, ....... 158,633 S7 

Total liabilities, including surplus, ..... $532,251 95 



FITCHBURG MUTUAL FIRE INSURANCE CO. 



43 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

. $42,746;322 00 
. 58,355,804 00 



Cash Prem's. 

$584,888 23 
755,931 42 



Conting't Prem's. 

$584,888 23 
755,931 42 



. $101,102,126 00 
. 42,658,208 00 



,340,819 65 $1,340,819 65 
558,135 41 558,135 41 



In force at end of year, . . $58,443,918 00 
Deduct reinsurance in recog- 
nized companies, . . 15,611,402 00 



$782,684 24 $782,684 24 
167,765 38 



Net amount in force, 

Marine risks: 
Written during the year, 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



$42,832,516 00 $614,918 86 



$547,285 00 
59,285 00 

$488,000 00 
139,915 00 



$17,604 14 
. 2,805 26 

$14,798 88 
2,830 92 



$17,604 14 
2,805 26 

$14,798 88 



$348,085 00 $11,967 96 



Miscellaneous. 
Net premiums received from organization of company, . . $7,593,947 46 
Net losses paid from organization of company, . . . 3,461,075 14 

Cash dividends paid policy holders from organization of company, 1,973,812 85 
Dividends to policy holders during 1920: 25 and 20 per cent. 
Net premiums written during the year: motor vehicles, $15,843.61. 
Losses incurred during the year: motor vehicles, $3,698.28. 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 

50 shares Atchison, Topeka & Santa Fe, . 

50 " Boston & Maine, common, 

100 " Boston & Maine, 1st pref., series A, 

50 " Chicago & Northwestern, . 

50 " Chic, Rock Island & Pacific, pref., 

50 " Delaware & Hudson, 

25 " Great Northern, preferred, 

25 " Illinois Central, 

25 " Louisville & Nashville, 

200 " New York, New Haven & Hartford, 

50 " New York Central, 

50 " Northern Pacific, 

125 " Pennsylvania, . 

50 " Southern Pacific, 

25 " Southern, preferred, 

50 " Union Pacific, . 

Bank Stocks. 
50 shares Fitchburg Bank & Trust, . 
15 " Springfield Safe Deposit & Trust, 

Miscellaneous Stocks. 
25 shares Edison Electric Illuminating, 
50 " Lehigh Valley Coal Sales, . 
25 " Western Union Telegraph, 



Book Value. 


Rate. 


Market Value. 


$4,181 26 


91 


$4,550 00 


4,205 00 


35 


1,750 00 


10,382 50 


50 


5,000 00 


3,993 75 


91 


4,550 00 


4,156 25 


81 


4,050 00 


4,815 63 


108 


5,400 00 


1,909 37 


91 


2,275 00 


2,215 63 


96 


2,400 00 


2,734 37 


113 


2,825 00 


11,948 87 


35 


7,000 00 


3,615 63 


81 


4,050 00 


3,984 38 


91 


4,550 00 


7,507 87 


91 


5,687 50 


4,953 13 


104 


5,200 00 


1,525 00 


68 


1,700 00 


6,140 63 


130 


6,500 00 


7,800 00 


148 


7,400 00 


1,500 00 


255 


3,825 00 


4,245 00 


165 


4,125 00 


3,810 00 


172 


4,300 00 


2,268 13 


90 


2,250 00 



44 



FITCHBURG MUTUAL FIRE INSURANCE CO. 



United 
United 
L'nited 
United 
L'nited 
United 
L'nited 
L'nited 
United 
L'nited 
United 
United 
United 



States 
States 
States 
States 
States 
States 
States 
States 
States 
States 
States 
States 
States 



Government Bonds. 

is, 1942, op. 1927, 

*is, 1942, op. 1927, 

4Js, 1942, op. 1927, 

^s, 1942, op. 1927, 

s, 1928, . 

s, 1928, . 

s, 1938, op. 1933, 

s, 1938, op. 1933, 

s, 1938, op. 1933, 
**s, 1938, op. 1933, 
4is, 1938, op. 1933, 
4fs, 1923, op. 1922, 
War Savings Stamps (issue of 



1918), 



State and Municipal Bonds 
Brockton, Mass., 4s, 1922, 
Cordele, Ga., 5s, 1932, 
Fitchburg, Mass., 4s, 1922, 
Fitchburg, Mass., 4s, 1923, 
Holyoke, Mass., 4s, 1927, . 
Lockport, N. Y., 4Js, 1922, 
Maiden, Mass., 4s, 1924, . 
Marietta, Ga., 5s, 1939, . 
Massachusetts, 3§s, 1935, . 
Schenectady, N. Y., 4s, 1928, 
Taunton, Mass., 4s, 1936, 

Railroad Bonds. 
Baltimore & Ohio conv. 4£s, 1933, 
Baltimore & Ohio 6s, 1929, 
Baltimore & Ohio equip. 4^s, 1922, 
Boston & Albany improvement 4s, 1935, 
Canadian National deb. 7s, 1940, 
Chicago, Milwaukee & St. Paul 5s, 2014, 
Chicago, Rock Island & Pacific ref. 4s, 1934, 
Cleveland, Cincinnati, Chic. & St. Louis 6s, 1929, 
Connecticut & Passumpsic Rivers 4s, 1943, 
Fitchburg 4s, 1925, .... 

Fitchburg 4s, 1927 

Louisville & Nashville coll. trust 7s, 1930, 

Maine Central 1st 5s, 1935, 

New York Central cons. 4s, 1998, 

New York Central equip. 4|s, 1922, . 

New York Central equip. 7s, 1924, 

New York, Pennsylvania & Ohio &%s, 1935, 

No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Old Colony 4s, 1938, . "* . 

Pennsylvania 7s, 1930, 

Pere Marquette, Series A, 1st 5s, 1956, 

Rochester Railway & Light 7s, 1921, . 

Southern general 4s, 1956, 

Worcester, Nashua & Rochester 4s, 1930, 

Miscellaneous Bonds. 
American Telephone & Telegraph 6s, 1925, 
Armour & Co. 7s, 1930, .... 
Bell Telephone, Penn., 7s, 1945, 
Bethlehem Steel 7s, 1935, .... 
Dayton Power & Light 1st lien and gen. 7s, 1923 
Edison Electric Illuminating, Boston, 6s, 1922, 
Fitchburg Gas & Electric Light 6s, 1923, 
General Electric 6s, 1940, . 
Illinois Steel 4$s, 1940, 
Maiden & Melrose Gas Light 6s, 1924, 
Massachusetts Lighting 7s, 1924, 
New Bedford Gas & Edison Light 6s, 1928, 
New York Telephone 6s, 1949, . 
Potomac Electric Power 6s, 1923, 
Salem Electric Light 6s, 1923, . 
Swift & Co. 6s, 1921, 
Worcester Suburban Electric 7s, 1921, 



Book Value. 

82,750 00 

700 35 

1,457 60 

4,280 00 

5,000 00 

9,625 00 

10,100 00 

2,395 00 

4,248 95 

839 70 

6,445 60 

15,000 00 

417 00 

5,000 00 

5,420 00 

2,028 60 

3,060 00 

5,056 25 

3,060 00 

5,017 50 

5,550 00 

4,887 50 

5,000 00 

5,075 00 



50 
00 
00 
50 
50 
50 



3,937 
4,825 

965 
4,212 
4,987 
3,737 
3,500 00 
4,900 00 
1,405 00 
1.749 55 

876 75 
5,000 00 
4,725 00 
3,650 00 

967 
1,002 
3,968 
9,581 
3,712 
4,987 
4,298 
2,940 00 
3,212 50 
4,125 00 



50 
50 
75 
25 
50 
50 
75 



to 

50 
00 
25 
75 
50 



4,993 
4,729 
4,750 
4,731 
4,918 
4,987 
4,850 00 
4,856 25 
4,250 00 
4,955 00 
4,872 50 
2,010 00 
5,050 00 
2,805 00 
2,955 00 
5,018 75 
4,925 00 



Rate. 
100 

93 + 

97 + 

85 + 
100 

96 + 
100 

95 + 

94 + 
93 + 
92 + 

100 



99 
100 
99 
98 
95 
99 
98 
100 
88 
96 
92 

76 
94 
9b 
82 

102 
79 
70 
92 
69 
86 
83 

104 
87 
73 
98 

102 
84 
97 
80 

105 
86 

100 
66 
78 

100 
96 

101 
95 
98 
99 
98 
98 
86 
98 
99 

101 
96 
96 
98 

100 

100 



Market Value. 
700 35 

1,4.-,: 
4,280 00 
5,000 00 
9,625 00 

10,100 00 

2,395 00 

4,248 95 

839 70 

0,445 60 

15,000 00 
447 00 

4,950 00 
5,000 00 
1,980 00 
10 00 
4,750 00 
2,970 00 
4,900 00 
5,000 
4,400 
4,800 
4,600 



00 
00 
00 
00 



3,800 00 
4.700 00 

980 00 
4,100 00 
5,100 00 
3,950 00 
3,500 00 
4,600 00 
1,380 00 
1,720 00 

830 00 
5,200 00 
4,350 
3,650 

980 
1,020 
4,200 
9,700 
4,000 
5.250 00 
4,300 00 
3,000 00 
3.300 00 
3.900 00 



00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 
00 



5.000 
4,800 
5,050 
4.750 
4,900 
4,950 00 
4,900 00 
4,900 00 
4,300 00 
4,900 00 
4,950 00 
2,020 
4,800 
2,880 
2,940 
5,000 



00 
00 
00 
00 
00 



5,000 00 



$373,232 25 



$362,516 70 



GRAIN DEALERS MUTUAL FIRE INSURANCE CO. 



45 



GRAIN DEALERS MUTUAL FIRE INSURANCE COMPANY, 

BOSTON. 

Incorporated Feb. 27, 1907. Commenced business July 10, 1907. 
DEAN K. WEBSTER, President. A. SHIRLEY LADD, Secretary. 

Office, 507 Chamber of Commerce. 

Income. 

Net fire premiums, . $228,610 95 

Gross interest on bonds, $8,410.67; bank deposits, $296.35; all 

other, $4.12, 8,711 14 

Gross profit on sale of bonds, ....... 400 00 

Commission on reinsurance, ....... 5,429 59 

Advance premiums, ........ 575 08 

From all other sources, . . . . . . 27 17 

Total income, ....... 

Ledger assets, Dec. 31, 1919, ...... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, ...... 

Agents' compensation, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery, . 
Dividends to policy holders, ...... 

Gross loss on sale of bonds, ...... 

Premiums of 1920 paid in 1919, 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 

Book value of bonds (Schedule A), 

Cash in office, ........ 

Deposits in trust companies and banks on interest, . 
Premiums in course of collection, ..... 

Total ledger assets, $269,238 65 



. $243,753 93 


. 235,158 75 


. $478,912 68 


$56,121 54 


73 59 


3,104 69 


37,959 32 


45,308 19 


4,916 14 


1,560 49 


3, 600 00 


233 00 


4,120 14 


2,076 58 


50 00 


5,924 21 


46,307 05 


380 42 


400 21 


538 46 


. $209,674 03 


. $269,238 65 


. $214,921 89 


2,120 88 


35,562 32 


16,633 56 



46 



GRAIN DEALERS MUTUAL FIRE INSURANCE CO. 



Non-Ledger Assets. 
Interest due and accrued on bonds, $3,296.98; other as- 

$3,416.49, 

Reinsurance recoverable on paid losses, ..... 



Gross assets, ...... 

Assets not admitted. 

Premiums over three months due, . 
Book value of bonds over market value, . 



Admitted assets, .... 

Liabilities. 
Unpaid losses, ..... 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, 
Commission, ..... 

Reinsurance, ..... 

Advance premiums, .... 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



SI, 830 76 
13,209 00 



Fire risks * 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. Cash Prem's. 

. $10,434,848 00 S21 1,487 74 
. 15,235,981 00 287,559 23 



16,713 47 
5,556 26 

8281,508 38 



15,039 76 
§266,468 62 



S3,445 05 

110,793 71 

1,387 26 

1,988 39 

200 00 

2,434 10 

575 08 

$120,823 59 

145,645 03 

$266,468 62 



Conting't Prem's. 

$211,487 74 
287,559 23 



$25,670,829 00 
12,517,058 00 



$499,046 97 $499,046 97 
241,470 27 241,470 27 



In force at end of year, . . $13,153,771 00 
Deduct reinsurance in recog- 
nized companies, . . 2,016,561 00 



$257,576 70 $257,576 70 
35,989 29 



Net amount in force, 



$11,137,210 00 8221,587 41 



Miscellaneous. 
Net premiums received from organization of company, . $1,294,962 60 

Net losses paid from organization of company, . . . 385,304 12 

Cash dividends paid policy holders from organization of company, 268,960 35 
Dividends to policy holders during 1920: 25 per cent. 



Schedule A. Bonds owned by the Company. 



Government Bonds 
Canada 5§s, 1929, . 
French Republic 8s, 1945, 
United States 4£s, 1947, op 
United States 4 is, 1947, op 
United States 4jS, 1942, op 
United States 4Js, 1942, op. 1927, 
United States 4£s, 1942, op. 192 
United States 4is, 1942, op 
United States 4is, 1942, op 
United States 4£s, 1928, . 
United States 4£s, 1938, op. 1933, 



1932, 
1932, 
1927, 



1927, 
1927, 



Book Value. 


Rate. 


$4,675 00 


97 


5,000 00 


102 


2,000 00 


100 


4,835 00 


96 + 


2,000 00 


100 


27,352 55 


94 + 


4,658 13 


93 + 


4,568 13 


91 + 


3,600 10 


90 + 


2,000 00 


100 


3,000 00 


100 



Market Value. 

$4,850 00 
5,100 00 
2,000 00 
4,835 00 
2,000 00 

27,352 55 
4,658 13 
4,568 13 
3,600 10 
2,000 00 
3,000 00 



GROVELAND MUTUAL FIRE INSURANCE CO. 



47 



United States 4is, 1938, op. 1933, 
United States 41s, 1938, op. 1933, 
United States 4Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States 4Js, 1923, op. 1922, 

State and Municipal Bonds. 
Boston, Mass., tax exempt 4s, 1921, 
British Columbia 4|s, 1925, 
Chicago, 111., 4£s, 1927, . 
Cleveland, O., 4£s, 1949, . 
Massachusetts 4s, 1922, 
Montreal, Que., 5s, 1936, . 
South Omaha, Neb., 55s, 1935, . 
Springfield, Mass., 4is, 1927, . 
Railroad Bonds. 
Atlantic Coast Line 7s, 1930, 
Boston & Albany imp. 4s, 1934, 
Boston & Maine 4£s, 1929, 
Boston & Maine 3£s, 1921, 
Boston & Northern Street 1st 4s, 1954, 
Chicago, Milw. & St. Paul 5s, 2014, 
Chicago, Milw. & St. Paul 4§s, 1932, 
Illinois Central 4s, 1955, . 
Illinois Central (C, St. L. & N. O.) 5s, 1963, 
Interborough Rapid Transit 5s, 1966, 
Lake Shore & Michigan Southern 4s, 1931, 
Louisville & Nashville 5s, 1931, 
Louisville & Nashville 7s, 1930, 
Milwaukee Elec. Ry. & Lt. 5s, 1951, 
New York, New Haven & Hart. deb. 4s, 1955-56, 
New York State Rys. 4§s, 1962, 
Pacific Fruit Express 6s, 1930, . 
Pennsylvania gen. 4^s, 1965, 
Pennsylvania 5s, 1968, 
Southern Pacific 5s, 1934, . 
Southern Pacific 4s, 1955, . 
Union Pacific conv. 4s, 1927, 
West End Street 4£s, 1930, 
West End Street 5s, 1932, 

Miscellaneous Bonds. 
Consumers Power 1st 5s, 1936, . 
Detroit Edison 5s, 1933, . 
Indiana Steel 1st 5s, 1952, 
Minneapolis Gas Light 5s, 1930, 
New England Power 1st 5s, 1951, 
Portland General Electric, Ore., 1st 5s, 1935, 
Southern Public Utilities 5s, 1943, 
Utah Power & Light 5s, 1944, . 



Book Value. 


Rate. 


Market Value. 


$10,371 


45 


94 + 


$10,371 45 


4,573 


13 


91 + 


4,573 13 


3,606 


40 


90 + 


3,606 40 


7,000 00 


100 


7,000 00 


4,998 00 


99 + 


4,998 00 


983 


75 


100 


1,000 00 


4,750 


00 


93 


4,650 00 


1,043 


30 


99 


990 00 


1,091 


25 


94 


940 00 


1,965 


40 


99 


1,980 00 


2,790 


00 


87 


2,610 00 


2,168 


60 


104 


2,080 00 


2,032 


20 


101 


2,020 00 


5,000 


00 


102 


5,100 00 


2,040 


00 


84 


1,680 00 


3,155 00 


79 


2,370 00 


1,857 


50 


79 


1,580 00 


2,730 


00 


38 


1,140 00 


3,097 


50 


79 


2,370 00 


1,895 


00 


77 


1,540 00 


4,068 


75 


80 


4,000 00 


3,000 


00 


90 


2,700 00 


2,985 


00 


62 


1,860 00 


4,637 


50 


87 


4,350 00 


2,110 


00 


96 


1,920 00 


5,000 


00 


104 


5,200 00 


2,925 


00 


76 


2,280 00 


2,840 


00 


56 


1,680 00 


1,710 


00 


62 


1,240 00 


997 


50 


97 


970 00 


4,915 


00 


88 


4,400 00 


4,781 


25 


94 


4,700 00 


4,600 


00 


107 


5,350 00 


7,782 


50 


80 


8,000 00 


1,860 00 


86 


1,720 00 


2,040 


00 


81 


1,620 00 


2,075 00 


83 


1,660 00 


4,810 


00 


87 


4,350 00 


5,075 00 


94 


4,700 00 


3,037 50 


95 


2,850 00 


5,034 


50 


60 


3,000 00 


1,970 


00 


88 


1,760 00 


2,000 


00 


85 


1,700 00 


1,940 


00 


73 


1,460 00 


1,890 


00 

89 


84 


1,680 00 


$214,921 


$201,712 89 



GROVELAND MUTUAL FIRE INSURANCE COMPANY, GROVELAND. 

Incorporated March 8, 1828. Commenced business March 28, 1828. 
WILLIAM T. PIKE, President. JOHN A. MARSHALL, Secretory. 

[Note. — This company relies upon assessments on deposit notes to pay losses and expenses.] 

Income. 
Assessments, $1,104 98 



Policy fees, 
Borrowed money, . 
From all other sources, 

Total income, 
Ledger assets, Dec. 31, 1919, 

Total, . 



390 00 
3,200 00 
128 46 



$4,823 44 
457 04 

$5,280 48 



48 



GROYELAND MUTUAL FIRE INSURANCE CO. 



Disbursements. 
Xet amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, ..... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

State taxes on assessments, .... 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, 
Borrowed money repaid, .... 

Interest on borrowed money, .... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 



Risks and Premiums. 



Total, . 

Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of j^ear, . 

Miscellaneous. 

Xet assessments received since 1849, 

Xet losses paid since 1849, . 

Assessments laid during the year on deposit notes, 



$3,04 

7 88 

363 11 

74s 00 

I 77 

86 13 

53 80 

60 75 

200 00 

179 14 

37 74 

$4,986 24 

$294 24 



I 22 

30 02 



Total ledger assets, ..... 

Xon-Ledger Assets. 
Uncollected assessments, . 
Supplies, ........ 

Furniture, fixtures and safes, ..... 

Due for rent and fuel, ...... 


$125 

375 
329 


00 
00 
25 


$294 24 

338 90 

125 00 

375 00 

24 50 


Gross assets, ....... 

Assets not admitted. 
Supplies, ....... 

Furniture, fixtures and safes, .... 

Assessments over three months due, 


$1,157 64 

829 25 


Admitted assets, ....... 

Liabilities. 

Salaries, expenses and accounts due or accrued, 
Borrowed money, ... ... 

Interest due or accrued on borrowed money, 






$328 39 

$374 64 
»0 00 

10 10 



Risks. 

$1,929,159 00 
519.340 00 

$2,448,499 00 
434,286 00 



$4,184 74 



Deposit Notes. 

$157,408 20 
41,763 03 

$199,171 23 
34.140 82 



$2,014,213 00 $165,030 41 



$145,222 47 

100.527 92 

417 73 



HAMPSHIRE MUTUAL FIRE INSURANCE CO. 



49 



HAMPSHIRE MUTUAL FIRE INSURANCE COMPANY, 

PITTSFIELD. 

Incorporated March 6, 1830. Commenced business July 1, 1832. 
HENRY R. PEIRSON, President. ROBERT A. BARBOUR, Secretary. 



Income. 

Net fire premiums, ........ 

Gross interest on mortgages, $175; stocks and bonds, $2,760.44; 
bank deposits, $34.24, ....... 

From all other sources, ........ 

Total income, ........ 

Ledger assets, Dec. 31, 1919, ....... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Profit and loss, ...... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, . . 

Total ledger assets, ..... 

Non-Ledger Assets. 
Interest accrued on mortgages, $47.77; bonds, $682.26, 
Reinsurance recoverable on paid losses, . 

Gross assets, ....... 



$45,775 29 

2,969 68 
20 38 

$48,765 35 
64,533 75 



. $113,299 10 


$12,603 22 


179 16 


8,112 26 


56 89 


132 40 


2,710 28 


247 00 


>, 529 53 


377 88 


361 44 


102 49 


615 16 


6,673 99 


7 17 


1 89 


$32,710 76 


$80,588 34 


$3,300 00 


72,652 20 


1,452 40 


180 78 


3,002 96 


$80,588 34 


730 03 


8 33 


. $81,326 70 



50 



HAMPSHIRE MUTUAL FIRE INSURANCE CO. 



Assets not admitted. 
Book value of stocks and bonds over market value, . 

Admitted assets, ........ 

; Liabilities. 
Unpaid losses, $1,845.04; less recognized reinsurance, $623.0-4, . 
Unearned premiums on outstanding risks, .... 

Dividends due policy holder-. ...... 

Salaries, expenses and accounts due or accrued, 

Federal, state and other taxes due or accrued, .... 

Total, 

Surplus to policy holders, ....... 

Total liabilities, including surplus, ..... 



$3,139 00 
$78,187 70 



$1,222 00 

45.306 40 

345 60 

400 00 

600 00 

$47,874 00 
30,313 70 

$78,187 70 



Risks and Premiums. 






Fire risks: 


Risks. 


Cash Prem 


'a. 


Conting't Prem*s. 


In force Dec. 31, 1919, . 


86,096,186 00 


-.360 64 


',.360 64 


Written during the year. 


3,969,989 00 
S10,066,175 00 


55,129 


to 


55,129 75 


Total, .... 


8140,490 39 


8140,490 39 


Expired and terminated, 


2,995,048 00 
87,071,127 00 


41,115 


58 


41,115 58 


In force at end of year, . 


899,374 81 


899,374 81 


Deduct reinsurance in recog- 










nized companies, 


1,065,348 00 
86,005,779 00 


14,022 


77 


— 


Xet amount in force, 


8S5,352 


04 


- 




Miscellaneous. 








Xet losses paid from organization of company, 


. . 


. 


1487,086 11 


Dividends to policy holders during 1920: 20 per 


cent. 






Schedule A. Stocks 


and Bonds owned by the 


COMP 


ANY. 


Stocks. 




Book Value. 


Rate. 


Market Value. 


63 shares Boston & Maine R.R., Is 


t pref., series D, 


$6,650 00 


90 


$5,670 00 


33 " Pennsylvania Railroad, 




2,003 75 


91 


1,501 50 


10 " Northampton National Bank, 


1,100 00 


215 


2,150 00 


Government Bonds. 










United States 4£s, 1942, op. 1927, 




2,000 00 


100 


2,000 00 


United States 4|s, 1942, op. 1927, 






2,541 05 


85 


2,550 00 


United States 4is, 1928, . 






1,000 00 


100 


1,000 00 


United States 4 is, 1928, . 






889 60 


884 


889 60 


United States 4*s, 1938, op. 1933, 






1,000 00 


100 


1,000 00 


United States 4Ja, 1938, op. 1933, 






952 10 


86 ■+ 


952 10 


United States 4fs, 1923, op. 1922, 






1,000 00 


100 


1,000 00 


County and Municipal Bonds. 








Beverlv, Mass., 4s, 1921, . 


... 


989 50 


100 


1,000 00 


Beverlv, Mass., 4s, 1923, . 


* . . 


1,943 60 


98 


1,960 00 


Brockton, Mass., 4s, 1923, 


... 


962 10 


98 


980 00 


Chicopee, Mass., 4s, 1922, 


... 


976 70 


99 


990 00 


Danbury, Conn., 3§s, 1932, 


... 


1,775 40 


89 


1,780 00 


Dedham, Mass., 3§s, 1928-29, . 




2,752 60 


91 


2.730 00 


Denver, Col., city and count y, 4|s, 


1948, '. '. 


1,980 00 


94 


1,880 00 


Everett, Mass., 4s, 1924, . 




940 30 


9S 


30 00 


Everett, Mass., 4s, 1931, . 


m • • 


1,869 00 


94 


1,880 00 


Everett, Mass., 4s, 1933, . 






1,895 40 


93 


1360 00 



HIXGHAM MUTUAL FIRE INSURANCE CO. 



51 



Gloucester, Mass., 4s, 1924, 
Melrose, Mass., 4s, 1924, . 
Minneapolis, Minn., 5s, 1929, 
Nashville, Tenn., 5s, 1927, 
Pittsfield, Mass., 3^s, 1922, 
Westfield, Mass., 3*s, 1929, 
Woonsocket, R. I., 5s, 1923, 

Railroad Bonds. 
Baltimore & Ohio (P., L. Erie & West Va.) 4s, 
New York, New Haven & Hart. conv. 6s, 1948, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Union Pacific (Oregon Short Line) 4s, 1929, 
West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Tel. & Tel. 4s, 1929, . 
American Tel. & Tel. 6s, 1925, . 
Massachusetts Gas 4§s, 1929, 
New York Gas, Elec. Lt., Ht. & Pwr. 5s, 1948, 
Pacific Tel. & Tel. 5s, 1937, 
Pittsfield Electric 7s, demand, . 
United States Steel 5s, 1963, 



Book Value. 


Rate. 


Market Value. 


$973 50 


97 


$970 00 


941 70 


98 


980 00 


933 70 


102 


1,020 00 


1,015 00 


100 


1,000 00 


969 50 


98 


980 00 


916 10 


91 


910 00 


1,010 40 


101 


1,010 00 


941, 1,790 00 


69 


1,380 00 


3,360 00 


84 


2,520 00 


6,000 00 


97 


5,820 00 


1,890 00 


84 


1,680 00 


1,062 50 


75 


750 00 


3,653 75 


81 


3,240 00 


944 95 


100 


1,000 00 


977 50 


90 


.900 00 


2,000 00 


88 


1,760 00 


977 50 


90 


900 00 


5,000 00 


100 


5,000 00 


3,015 00 


98 


2,940 00 


$72,652 20 


$69,513 20 



HIXGHAM MUTUAL FIRE INSURANCE COMPANY, HINGHAM. 

Incorporated March 4, 1826. Commenced business Sept. 1, 1826. 
HENRY W. CUSHING, President. ALAN F. HERSEY, Secretary. 



Income. 

Net fire premiums, ........ 

Gross interest on mortgages, $527.33; stocks and bonds, 
$16,045.38; bank deposits, $865.73; gross rents for company's 
own occupancy, $700, ....... 

Refund of federal tax, ........ 

From all other sources, ........ 

Total income, ........ 

Ledger assets, Dec. 31, 1919, ....... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 
Rents, including $700 for company's own occupancy, 
Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery, . 
Repairs and expenses on real estate, .... 

Taxes on real estate, ....... 



$128,398 76 



18,138 44 
500 00 
153 51 

$147,190 71 
378,563 15 



. $525,753 86 


$41,070 23 


897 94 


21,580 53 


202 59 


86 82 


14,123 10 


1,326 56 


214 19 


819 00 


4,321 28 


1,241 83 


1,060 40 


671 44 


8 00 


2,209 19 


355 40 


138 75 



52 



HIXGHAM MUTUAL FIRE INSURANCE CO. 



Dividends to policy holders, .... 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 



$20,499 54 
44 26 

§110,871 05 

$414,882 81 



$6,000 00 

8,450 00 

365,507 75 

730 85 

19,416 50 

14,771 71 



Total ledger assets, ..... 


• 


$414,882 81 


Xon-Ledger Assets. 






Interest due and accrued on mortgages, $71.10; bonds 
Reinsurance recoverable on paid losses, 


119.87, 


5,190 97 
10 36 


Gross assets, ....... 


1420,084 14 


Assets not admitted. 






Overdue and accrued interest on bonds in de- 
fault, ....... 

Book value of stocks and bonds over market 
value, ....... 


$843 75 
42,200 75 


43,044 50 



Admitted assets, .... 

Liabilities. 
Unpaid losses, ..... 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other-taxes due or accrued, 
Reinsurance, ..... 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$30,557,251 00 
11,710,829 00 



In force at end of } T ear, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 



$377,039 64 



S6,376 44 

189,224 98 

881 58 

598 31 

1,348 10 

456 58 

$198,885 99 
178,153 65 

$377,039 64 



Cash Prem's. Conting't Prem's. 

$355,533 62 $355,533 62 
140,760 56 140,760 56 



$42,268,080 00 
9,655,692 00 

$32,612,388 00 

812,105 00 



$496,294 18 
117,242 54 

$379,051 64 

9,606 96 



$496,294 18 
117,242 54 

$379,051 64 



$31,800,283 00 $369,444 68 



HINGHAM MUTUAL FIRE INSURANCE CO. 



53 



Miscellaneous. 
Net premiums received from organization of company, . . $4,539,973 54 
Net losses paid from organization of company, . . . 1,685,264 58 

Cash dividends paid policy holders from organization of company, 2,245,184 74 
Dividends to policy holders during 1920 : 20 per cent. 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
30 shares Boston Elevated, pref., 
40 " Boston Elevated, common, . 
25 " Union Pacific, preferred, 

Bank Stocks. 
30 shares Hingham Trust, 
12 " National Union, Boston, 
60 " Old Colony National, Plymouth, 
22 " Webster & Atlas, Boston, . 

Miscellaneous Stocks. 
88 shares Hingham Water, 
50 " United Shoe Machinery, preferred, 

Government Bonds. 
United States 4£s, 1942, op. 1927, 
United States 4is, 1928, . 
United States 4is, 1938, op. 1933, 
United States 41s, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

Railroad Bonds. 
Atch., Top. & S. Fe (Trans. Short Line) 4s, 1958, 
Baltimore & Ohio 4s, 1948., 
Bait. & Ohio (P., L. E. & W. Va.) 4s, 1941, 
Boston Elevated 4s, 1935, 
Boston '& Maine 4s, 1926, 
Chesapeake & Ohio conv. 4|s, 1930, . 
Chicago, Milwaukee & St. Paul 4^s, 2014, . 
Chicago & Western Indiana 4s, 1952, 
Current R. (Kan. C, Ft. Scott & M.) 5s, 1927, 
Eastern Mass. Street ref. 4^s, 1948, . 
Eastern Mass. Street 6s, 1925, 
Illinois Central coll. trust 4s, 1952, 
Kansas City, Clinton & Springfield 5s, 1925, 
Kansas City Terminal 4s, 1960, 
Kansas City Railways 2d 6s, 1944, 
Louisville & Jeffersonville Bridge 4s, 1945, . 
Michigan Central deb. 4s, 1929, 
New York Central cons. 4s, 1998, 
New York, New Haven & Hartford 4s, 1955, 
Seaboard Air Line (Atl. & Birm.) 4s, 1933, 

Miscellaneous Bonds. 
American Telephone & Telegraph 4s, 1929, 
Central States Electric 5s, 1922, 
Denver Gas & Electric Light 5s, 1951, 
Hingham Water 5s, 1923, . 
Hingham Water 5s, 1925, . 
Lawrence Gas 7s, 1940, 
Northern Ontario Power 6s, 1931, 
Toronto Power 5s, 1924, . 



Book Value. 


Rate. 


Market Value. 


$3,000 00 


91 


$2,730 00 


5,765 


00 


69 


2,760 00 


2,500 00 


70 


1,750 00 


3,000 


00 


145 


4,350 00 


1,200 


00 


204 


2,448 00 


6,000 


00 


125 


7,500 00 


2,480 


00 


225 


4,950 00 


8,800 


00 


105 


9,240 00 


1,525 


00 


104 


1,300 00 


15,000 


00 


100 


15,000 00 


5,000 


00 


100 


5,000 00 


25,000 


00 


100 


25,000 00 


22,629 


00 


87 + 


22,629 00 


20,000 


00 


100 


20,000 00 


9,425 


00 


• 79 


7,900 00 


7,010 


00 


76 


6,080 00 


13,475 


00 


69 


10,350 00 


7,872 


50 


69 


5,520 00 


5,000 


00 


78 


3,900 00 


17,600 


00 


77 


15,400 00 


9,593 


75 


67 


6,700 00 


7,700 


00 


64 


6,400 00 


15,100 


00 


85 


12,750 00 


4,600 


00 


28 


1,400 00 


250 


00 


20 


50 00 


18,525 


00 


77 


15,400 00 


10,000 


00 


67 


6,700 00 


4,387 


50 


77 


3,850 00 


4,800 


00 


18 


900 00 


4,081 


25 


70 


3,500 00 


13,518 


75 


82 


12,300 00 


9,412 


50 


73 


7,300 00 


5,062 


50 


56 


2,800 00 


8,700 00 


71 


7,100 00 


12,707 


50 


81 


12,150 00 


9,787 


50 


90 


9,000 00 


9,300 


00 


84 


8,400 00 


5,000 


00 


95 


4,750 00 


6,000 


00 


95 


5,700 00 


5,000 


00 


103 


5,150 00 


10,200 


00 


75 


9,000 00 


9,500 


00 


82 


8,200 00 


$365,507 


75 


$323,307 00 



54 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



HOLYOKE MUTUAL FIRE INSURANCE COMPANY, SALEM. 

Incorporated March 14, 1843. Commenced business May 23, 1843. 

Guaranty Capital, $100,000. 

CARLOS P. FAUNCE, President. LOUIS O. JOHNSON, Secretary. 

Office, 114 Washington Street. 



Income. 

Net fire premiums, $266,641.21; marine, S65,519.02, . . 

Gross interest on stocks and bonds, $37,407.40; bank deposits, 
$494.57; gross rents, including $2,275 for company's own 
occupancy, $8,735.71, ........ 

Gross profit on sale or maturity of bonds, .... 

Gross increase in book yalue of bonds, ..... 

Total income, ........ 

Ledger assets, Dec. 31, 1919, ....... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, $75,539; marine, 

S15,839.27, 

Loss adjustment expenses, 

Agents' compensation, including brokerage, 

Agents' allowances, .... 

Field supervisory expenses, 
Salaries and fees of directors, officers and clerks, 
Rents, including $2,275 for company's own occupancy, 
Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ....... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to policy holders, .... 

Dividends on guaranty capital, 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, . • 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 



-',160 23 



46,637 68 

50 00 

4,238 50 



$383,086 41 


968,786 63 


$1,351,873 04 


$91,378 27 


2,314 24 


52,208 72 


494 38 


5,837 88 


34,596 83 


2,771 57 


7,360 01 


672 32 


5,959 71 


2,683 24 


4,132 35 


1,781 81 


278 7") 


3,874 37 


21,942 32 


2,887 20 


95,239 46 


7,000 00 


816 50 


65 99 


8344,295 92 



$1,007,577 12 



S47,000 00 

906,264 00 

6,189 62 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



55 



Deposits in trust companies and banks on interest, 
Agents' balances, ...... 



$6,478 33 
41,645 17 



Total ledger assets, 


. 


. 


$1,007,577 12 


Non-Ledger Assets. 






Interest accrued on bonds, $10 

property, $1,067.50, . 
Market value of real estate o^ 
Reinsurance dividends due frc 
Due from other companies on 


,602.13; rents accrued on company's 

rer book value, . . . . 
>m other companies, 
joint inspection account, 


11,669 63 
50,500 00 

857 72 
791 88 


Gross assets, . 


$1,071,396 35 


Assets not admitted 






Book value of stocks and bonds over market value, 


. 


89,898 78 


Admitted assets, 


Liabilities. 


. 


$981,497 57 


Unpaid losses, $8,372.04; less 
Unearned premiums on outsta 
Dividends due policy holders, 
Salaries, expenses and accounl 
Federal, state and other taxes 
Interest paid in advance, 


recognized reinsurance, $436.59, . 
jiding risks, .... 

:s due or accrued, 
due or accrued, .... 

'.'... $100,000 00 

421,943 03 


$7,935 45 

424,684 84 

21,067 72 

2,006 36 

3,782 39 
77 78 


Total, , t 
Guaranty capital, . 
Surplus over all liabilities, 


$459,554 54 
521,943 03 


Total liabilities, including surplus, 


. 


$981,497 57 


R 

Fire risks: 
In force Dec. 31, 1919, . 

Written during the j'ear, 


isks and Premiums. 

. $55,556,498 00 
. 26,231,344 00 


Cash Prem's. 

$820,990 42 
357,894 58 


Conting't Prem's. 

$820,990 42 
357,894 58 


Total, . 
Expired and terminated, 


. $81,787,842 00 $1,178,885 00 $1,178,885 00 
. 21,343,647 00 299,941 31 299,941 31 


In force at end of j T ear, . 
Deduct reinsurance in recog- 
nized companies, 


$60,444,195 00 

8,662,750 00 
$51,781,445 00 

$1,656,381 00 
5,113,324 00 

$6,769,705 00 
2,522,148 00 

$4,247,557 00 
1,307,304 00 


$878,943 69 

113,153 42 

$765,790 27 

$35,517 96 
102,527 84 

$138,045 80 
49,116 07 

$88,929 73 
25,094 17 


$878,943 69 


Net amount in force, 
Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 


$35,517 96 
26,548 16 


Total, . 
Expired and terminated, 


$62,066 12 
24,622 84 


In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 


$37,443 28 



Net amount in force, 



$2,940,253 00 



$63,835 56 



56 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 
Net premiums received from organization of company, . ->,727,573 15 

Net losses paid from organization of company, . . . 3,691,406 91 

Cash dividends paid policy holders from organization of company, 2,951,859 65 
Dividends to policy holders during 1920: 25, 30, 40, 50 and 60 

per cent. 
Net premiums written during the year: motor vehicles, §65,519.02. 
Losses incurred during the year: motor vehicles, $15,839.27. 



Railroad Stocks. 

50 shares Boston & Maine, 

31 " Old Colony 

100 " Pitts., Ft. Wayne & Chic, pref., 
162 " Union Pacific, preferred, 

25 " West End Street, 

Bank Stocks. 

10 shares Merchants National, Salem, 
Government Bonds. 
United States 4is, 1947, op. 1932, 
United States 4Js, 1942, op. 1927, 
United States 4£s, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

State and Municipal Bonds 
Belmont, Mass., 3§s, 1930, 
Beverly, Mass., 4s, 1931, . 
Beverly, Mass., 4s, 1932, . 
Bristol, Conn., 4s, 1927, . 
Buffalo, N. Y., 4s, 1931, . 
Canton, Mass., 4s, 1921, . 
Cincinnati, O., 6s, 1928, . 
Cleveland, O., 6s, 1928, . 
Concord, Mass., 3£s, 1932, 
Derby, Conn., 4s, 1928, . 
Everett, Mass., 4s, 1923, . 
Everett, Mass., 4s, 1933, . 
Framingham, Mass., 4s, 1925-26 
Framingham, Mass., 4s, 1929, 
Hartford, Conn., 4Js, 1933, 
Jersey City, N. J., 5s, 1922, 
Jersey City, N. J., 4s, 1928,- 
Lawrence, Mass., 4s, 1923, 
Massachusetts tax exempt 3|s, 1936, 
Massachusetts 31s, 1933, . 
Massachusetts tax exempt 3s, 1949, 
Mt. Vernon, N. Y., 4|s, 1932, 
Needham, Mass., 4s, 1933, 
New Bedford & Fairhaven, Mass., bridge 4s, 
New Bedford, Mass., 3£s, 1923, 
New Bedford, Mass., 4s, 1935, 
Newton, Mass., 4s, 1936, . 
New York, N. Y., 4s, 1959, 
Pawtucket, R. I., 4s, 1944, 
Peabody, Mass., 4s, 1923-24, 
South Norwalk, Conn., 4s, 1935 
Tiverton, R. I., 4s, 1925-27, 
Tiverton, R. I., 4s, 1928-29, 
Weymouth, Mass., 4s, 1925, 
Winchester, Mass., 3£s, 1921, 
Winchester, Mass., 3£s, 1922, 
Woonsocket, R. I., 4s, 1923, 
Woonsocket, R. I., 4|s, 1927, 

Railroad Bonds 

Atch., Topeka & Santa Fe adjust. 4s, 1995, 

Atch., Topeka & Santa Fe gen. 4s. 1995, 

Baltimore & Ohio prior lien 3^s, 1925, 



1957, 



OWNED BY THE 


Company. 


Book Value. 


Rate. 


Market Value. 


$5,000 00 


35 


$1,750 00 


3,100 00 


93 


_' 383 00 


10,000 00 


130 


13,000 00 


16,200 00 


70 


11,340 00 


1,250 00 




1,112 50 


500 00 


180 


900 00 


15,000 00 


100 


15,000 00 


35,000 00 


100 


35,000 00 


40,000 00 


100 


40,000 00 


60,000 00 


100 


60.000 00 


30,000 00 


100 


30,000 00 


5,000 00 


89 


4,450 00 


7,000 00 


94 


6,580 00 


2,000 00 


93 


1,860 00 


4,000 00 


96 


3,840 00 


10,000 00 


96 


9,600 00 


5,000 00 


100 


5,000 00 


10,000 00 


107 


10,700 00 


10,000 00 


107 


10,700 00 


10,000 00 


89 


8,900 00 


5,000 00 


95 


4,750 00 


5,214 00 


98 


5,109 72 


5,000 00 


93 


4,650 00 


4,000 00 


98 


3,920 00 


6,000 00 


97 


5,820 00 


6,000 00 


99 


5,940 00 


3,000 00 


100 


3,000 00 


5,000 00 


95 


4,750 00 


5,000 00 


99 


4,950 00 


5,000 00 


92 


4,600 00 


10,000 00 


89 


8,900 00 


5,000 00 


80 


4,000 00 


5,000 00 


98 


4.900 00 


7,000 00 


94 


6,580 00 


10,000 00 


87 


8,700 00 


5,000 00 


97 


4,850 00 


10,000 00 


92 


9,200 00 


5,000 00 


92 


4,600 00 


5,000 00 


91 


4.550 00 


5,000 00 


86 


4,300 00 


10,000 00 


98 


9,800 00 


10,000 00 


93 


9,300 00 


6,000 00 


97 


5,820 00 


4,000 00 


96 


3,840 00 


5,000 00 


97 


4.^50 00 


1,000 00 


100 


1,000 00 


4,000 00 


98 


3,920 00 


5,000 00 


98 


4,900 00 


5,000 00 


99 


4,950 00 


5,000 00 


76 


3,800 00 


9,000 00 


81 


7.290 00 


10,500 00 


87 


9,135 00 



HOLYOKE MUTUAL FIRE INSURANCE CO. 



57 



Baltimore & Ohio 1st 4s, 1948, 

Boston & Albany improvement 4s, 1934, 

Boston & Albany refunding 5s, 1963, . 

Boston & Lowell 4^s, 1933, 

Boston & Maine refunding 4s, 1926, . 

Central of New Jersey gen. 5s, 1987, . 

Central Pacific 1st refunding 4s, 1949, 

Central Pacific 3£s, 1929, . 

Central Vermont 1st 5s, 1930, 

Chicago, Burl. & Quincy (Neb. Ext.) 4s, 1927, 

Chicago, Burl. & Quincy (111. Div.) 3§s, 1949, 

Chicago, Milw. & St. Paul gen. 4|s, 1989, . 

Chicago & Northwestern Extension 4s, 1926, 

Chicago & Northwestern deb. 5s, 1921, 

Chicago & Western Indiana gen. 6s, 1932, . 

Cincinnati, Hamilton & Dayton gen. 5s, 1942, 

Cleveland, Loraine & Wheeling 1st 5s, 1933, 

Erie & Pittsburg gen. 3|s, 1940, 

Erie (Pennsylvania coll.) 4s, 1951, 

Housatonic cons. 5s, 1937, 

Illinois Central (Cairo Bridge) 4s, 1950, 

Illinois Central purchased lines 3^s, 1952, 

Illinois Central refunding 4s, 1955, 

Jamestown, Franklin & Clearfield 1st 4s, 1959, 

Kan. City, Ft. Scott & Memphis cons. 6s, 1928, 

Lake Shore & Mich. Southern deb. 4s, 1928, 

Lehigh Valley cons. 6s, 1923, 

Long Island refunding 4s, 1949, 

Maine Cent. & European & No. Amer. 4s, 1933, 

New England cons. 5s, 1945, 

New York Central & Hudson River 3£s, 1997, 

N. Y. Cent. & H. R. (Lake Sh. coll.) 3£s, 1998, 

N. Y. Cent. & H. R. (Mich. Cent, coll.) 3£s, 1998, 

N. Y., N. H. & H. (H. R. & Pt. C. D.) 1st 4s, 1954 

N. Y., N. H. & H. conv. deb. 3|s, 1956, . 

N. Y., N. H. & H. conv. deb. 6s, 1948, 

N. Y., N. H. & H. deb. 4s, 1955, 

New York, Ontario & Western ref. 4s, 1992, 

No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Norwich & Worcester 4s, 1927, . 

Old Colony 4s, 1924, 

Old Colony 4s, 1925, 

Oregon Short Line ref. 4s, 1929, 

Pennsylvania coll. trust 7s, 1930, 

Pennsylvania gen. freight equip. 4£s, 1923, 

Peoria & Northwestern 1st 3£s, 1926, 

Princeton & Northwestern 1st 3§s, 1926, 

Richmond-Washington coll. trust 4s, 1943, 

Seattle Electric 1st 5s, 1930, 

St. Paul, Minn. & Man. 1st cons. 4|s, 1933 

Terminal Assoc, of St. Louis 1st 4^s, 1939, 

Union Pacific 1st R.R. & L. G. 4s, 1947, 

West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 4s, 1929, 
Boston Woven Hose & Rubber notes, 1921, 
Brown Durrell notes, 1921, 
Clinton Water Works, Iowa 1st 5s, 1939, 
General Electric deb. 5s, 1952, . 
Massachusetts Gas 4£s, 1929, 
Massachusetts Gas 4?s, 1931, 
Quincy Mkt. C. Storage & Warehouse notes, 1921, 
Western Union Telegraph coll. trust 5s, 1938, 
Woonsocket Elec. Mach. & Power cons. 4§s, 1943, 



00 
00 
00 
00 



00 
00 
00 
00 
00 
00 
00 
00 
00 



Book Value. 

$1,500 00 
5,000 00 
5,000 00 
5,000 00 

15,000 00 
7,000 00 
3,000 
500 
2,000 
5,000 
5,000 00 

10,000 00 
1,000 00 
3,000 
3,000 

10,000 

15,000 
5,000 
5,000 

10,000 
3,000 
5,000 

10,000 00 
5,000 00 

13,000 00 
5,000 00 
5,000 00 
5,000 00 
4,000 00 

25,000 00 
3,000 00 
5,000 00 
3,000 00 
5,000 00 
9,000 00 
2,000 00 

10,000 00 

20,000 00 
5,000 00 
5,000 00 

10,000 00 
5,000 00 
5,000 00 

10,000 00 
5,000 00 
8,000 00 

11,000 00 
5,000 00 
2,000 00 

12,000 00 
6,000 00 

22,500 00 

10,000 00 

20,000 00 

5,000 00 

5,000 00 

5,000 00 

5,000 00 

4,000 00 

5,000 00 

5,000 00 

5,000 00 

3,000 00 

$906,264 00 



Rate. 
76 
84 
89 
80 
78 

103 
78 
82 
65 
93 
78 
81 
88 

100 

104 
83 
92 
75 
79 
90 
79 
69 
80 
79 

100 
88 

101 
76 
77 
85 
72 
67 
67 
72 
51 
84 
56 
66 
97 
85 
93 
92 
84 

105 
97 
91 
91 
81 
89 
93 
90 
85 
75 

81 

100 

100 

75 

94 

90 

82 

100 

88 

91 



Market Value . 

$1,140 00 
4,200 00 
4,450 00 
4,000 00 

11,700 00 
7,210 00 
2,340,00 
410 00 
1,300 00 
4,650 00 
3,900 00 
8,100 00 
880 00 
3,000 00 
3,120 00 
8,300 00 

13,800 00 
3,750 00 
3,950 00 
9,000 00 
2,370 00 
3,450 00 
8,000 00 
3,950 00 

13,000 00 
4,400 00 
5,050 00 
3,800 00 
3,080 00 

21,250 00 
2,160 00 
3,350 00 
2,010 00 
3,600 00 
4,590 00 
1,680 00 
5,600 00 

13,200 00 
4,850 00 
4,250 00 
9,300 00 
4,600 00 
4,200 00 

10,500 00 
4,850 00 
7,280 00 

10,010 00 
4,050 00 
1,780 00 

11,160 00 
5,400 00 

19,125 00 
7,500 00 



16,200 
5,000 
5,000 
3,750 
4,700 
3,600 
4,100 
5,000 00 
4,400 00 
2,730 00 

$816,365 22 



00 
00 
00 
00 
00 
00 
00 



58 



INDUSTRIAL MUTUAL INSURANCE CO. 



INDUSTRIAL MUTUAL INSURANCE COMPANY, BOSTON. 

Incorporated April 17, 1890. Commenced business June 1, 1890. 
CHARLES T. PLUNKETT, President. BENJAMIN TAFT, Secretary. 

Office, 31 Milk Street 

Income. 

Net fire premiums, $574,256 17 

Gross interest on bonds, $29,340.09; bank deposits, $1,680.38, 31,020 47 

Gross profit on sale of bonds, ....... 70 83 



Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Agents' compensation, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents. ........ 

Furniture and fixtures, ..... 

Inspection department, for inspections, maps, plans 
ment of losses, ...... 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Deposits in trust companies and banks on interest, 

Premiums in course of collection, 

Total ledger assets, .... 

Nox-Ledger Assets. 
Interest due and accrued on bonds, 

Gross assets, ...... 



. $605,347 47 


709,191 83 


. $1,314,539 30 


$29,083 55 


79 50 


1,2c " 


11,670 01 


1.258 23 


305 68 


and adjust- 


11.621 45 


1,664 80 


_ Sj 47 


567 43 


189 53 


1.792 28 


442,081 83 


761 67 


25 00 


6 00 


. 8509,896 14 


. $804,643 16 


. $692,121 44 


77,900 53 


34,621 19 


. $804,643 16 


11,351 52 


. $815,994 6S 



INDUSTRIAL MUTUAL INSURANCE CO. 



59 



Assets not admitted. 

Premiums over three months due, . . . $382 06 
Overdue and accrued interest on bonds in de- 
fault, 1,004 17 

Book value of bonds over market value, . . 76,349 23 

Discount on Canadian bank deposits, . . 897 12 



Admitted assets, . 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, . 

Total liabilities, including surplus, 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. 

. $73,845,853 00 
. 75,840,120 00 



$78,632 58 
$737,362 10 



$4,979 00 

346,634 30 

443 64 

2,284 31 

$354,341 25 
383,020 85 

$737,362 10 



Cash Prem's. Conting't Prem's. 

$588,696 14 $2,943,480 70 
608,158 03 3,040,790 15 



$149,685,973 00 $1,196,854 17 $5,984,270 85 
65,718,142 00 533,484 42 2,667,422 10 



$83,967,831 00 $663,369 75 $3,316,848 75 



Miscellaneous. 
Net premiums received from organization of company, . . $8,081,740 56 
Net losses paid from organization of company, . . . 939,474 33 

Cash dividends paid policy holders from organization of company, 6,094,679 96 
Dividends to policy holders during 1920: 90, 80, 71 and 61 per 

cent. 
Losses incurred during the year: wind storms and tornadoes, 

$334.37; sprinkler leakage," $2,010.53. 

Schedule A. Bonds owned by the Company. 

Government Bonds. 
Belgium 7|b, 1945, .... 
Canada 5s, 1937, .... 
French Republic 8s, 1945, 
United Kingdom of Gt. Britain & Ireland 5§s 
United States 3£s, 1947 op. 1932, 
United States 3|s, 1947, op. 1932, 
United States 4|s, 1942, op. 1927, 
United States 4is, 1928, . 
United States 4Js, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4|s, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

State and Municipal Bonds. 
Belzoni Drainage District, Miss., 6s, 1932, 
Copenhagen, Denmark, 5|s, 1944, 
Massachusetts 3£s, 1933, . 
Massachusetts 3^s, 1935, . 
Massachusetts 3|s, 1940, . 





Book Value. 


Rate. 


Market Value. 




$4,862 50 


100 


$5,000 00 




4,787 50 


96 


4,800 00 




4,000 00 


102 


4,080 00 


i, 1929' 


4,812 50 


93 


4,650 00 




15,000 00 


100 


15,000 00 




9,983 12 


99 + 


9,983 12 




25,000 00 


100 


25,000 00 




10,000 00 


100 


10,000 00 




11,236 83 


93 + 


11,236 83 




40,000 00 


100 


40,000 00 




13,232 26 


88 + 


13,232 26 




15,000 00 


100 


15,000 00 




3,000 00 


100 


3,000 00 




1,870 00 


84 


1,680 00 




4,000 00 


89 


3,560 00 




9,312 50 


88 


8,800 00 




39,073 60 


86 


35,260 00 



60 



INDUSTRIAL MUTUAL INSURANCE CO. 



New Brunswick 5§s, 1929, 

Ontario 6s, 1928, .... 

Toronto, Ontario, 4^s, 1953, 

Railroad Bonds. 
Aurora, Elgin & Chicago 5s, 1946, 
Baltimore & Ohio prior lien 3|s, 1925, 
Baltimore & Ohio 1st 4s, 1948, . 
Baltimore & Ohio ref. and gen. 5s, 1995, 
Baltimore & Ohio 6s, 1929, 
Bangor & Aroostook cons. 4s, 1951, . 
Boston & Albany deb. 4s, 1933, 
Boston & Albany terminal 3^s, 1951, . 
Boston & Maine 4s, 1926, 
Boston & Maine 4£s, 1929, 
Boston & New York Air Line 4s, 1955, 
Boston & Worcester Street 4|s, 1923, 
Boston Elevated 4s, 1935, 
Canadian Northern notes, 5§s, 1924, . 
Chicago, Indiana & Southern 4s, 1956, 
Chicago, Milw. & St. Paul gen. and ref. 4£s, 2014, 
Chicago, Milw. & St. Paul gen. and ref. 5s, 2014, 
Chicago, Milw. & St. Paul deb. 4s, 1934, . 
Chicago Union Station 1st 6£s, 1963, . 
Colorado & Southern 4|s, 1935, 
Delaware & Hudson 5s, 1935, 
Elizabeth & Trenton 5s, 1962, . 
Florida East Coast 4§s, 1959, 
Illinois Central coll. trust 4s, 1953, 
Lake Shore & Michigan Southern 4s, 1928, 
Maryland, Delaware & Virginia 5s, 1955, 
Middlesex & Boston Street 4|s, 1932, 
Minn., St. Paul & S. Ste. Marie cons. 4s, 1938, 
Montreal Tramways 5s, 1941, . 
New York & Putnam 4s, 1993, . 
New York Central cons. 4s, 1998, 
N. Y. Central & Hud. Riv. ref. and imp. 4§s, 2013 
New York, Chicago & St. Louis 4s, 1931, 
New York Connecting 4|s, 1953, 
New York, New Haven & Hartford deb. 4s, 1955 
Northern Maine Seaport 5s, 1935, 
No. Pac.-Gt, North. (C, B. & Q. coll.) 4s, 1921, 
Pennsylvania gen. 4§s, 1965, 
Pennsylvania gen. 5s, 1968, 
Richmond-Washington 4s, 1943, 
Rock Island, Arkansas & Louisiana 4£s, 1934, 
St. Joseph Ry., Light, Heat <^Power 5s, 1946, 
Seaboard Air Line cons. 6s, 1945, 
Terre Haute Traction & Light 5s, 1944, 
Waterloo, Cedar Falls and Northern 5s, 1940, 
West End Street 4s, 1932, 
Worcester & Holden Street 5s, 1923, . 

Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 4s, 1929, 
American Tel. & Tel. coll. trust 5s, 1946, 
American Tel. & Tel. notes, 6s, 1922, 
American Writing Paper 1st 7s, 1939, 
Bellows Falls Power 5s, 1922, . 
Bell Telephone, Canada, 7s, 1925, 
Bell Telephone, Pennsylvania, 1st and ref. 7s, 1945 
Connecticut River Power, N. H., 5s, 1937, 
Consumers Power 5s, 1936, 
Denver Gas & Electric Light 5s, 1951, 
Detroit Edison 1st and ref. 5s, 1940, . 
Detroit Edison conv. deb. 7s, 1930, . 
Duquesne Light 1st and coll. trust 6s, 1949, 
Edison Electric Illuminating, Boston, 5s, 1922, 
Mississippi River Power 1st 5s, 1951, 
New England Tel. & Tel. deb. 4s, 1930, 
Northern States Power 1st and ref. 5s, 1941, 
Northern Texas Electric 5s, 1940, 
Shawinigan Water and Power 7£s, 1926, 



Book Value. 

$4,725 00 
5,000 00 
7,087 50 

4,750 00 

4,725 00 

4,625 00 

3,000 00 

3,640 00 

3,400 00 

4.292 50 
2,535 00 
4,821 88 
5,275 00 
3,000 00 
4,675 00 
3,000 00 
4,712 50 

14,437 50 

7,987 50 

6,615 00 

4,612 50 

4,925 00 

5,000 00 

3,000 00 

4,850 00 

4,812 50 

8,600 00 

4,762 50 

5,000 00 

9,412 50 

9.293 75 
4,925 00 
4,562 50 
8,000 00 
4,725 00 
7,432 50 
4,925 00 

15,000 00 

15,000 00 

10,605 00 

7,832 50 

4,437 50 

7,000 00 

4,693 75 

6,615 00 

1,990 00 

5,000 00 

1,775 00 

1,772 50 

3,000 00 

26,803 75 

980 00 

948 75 

20,000 00 

4,787 50 

4,887 

4,956 

4,750 

4,700 

3,640 
13,900 

5,000 

3,000 00 

5,000 00 

3,806 25 
20,000 00 

4,300 00 

4,800 00 

4,962 50 



50 
25 
00 
00 
00 
00 
00 



Rate. 
99 
97 
75 

25 
87 
76 

77 
94 
52 
84 
68 
78 
79 
69 
64 
69 
95 
76 
67 
79 
70 
105 
79 
92 
71 
83 
74 
88 
35 
70 
85 
78 
75 
73 
82 
75 
84 
56 
65 
97 
88 
94 
81 
69 
75 
70 
82 
44 
75 
50 



81 

86 
98 
83 
95 
95 

101 
90 
87 
84 
87 

103 
95 
97 
78 
82 
82 
76 

100 



Market Value. 

150 00 

4,850 00 
7,500 00 

1,250 00 
4,350 00 
3,800 00 
2,310 00 
3,760 00 
■ 2,080 o< j 
4,200 00 
2,040 00 
3,900 00 
5,530 00 
2,070 00 
3,200 00 
2,070 00 
4,750 00 

11,400 00 
6,700 00 
7,900 00 
3,500 00 
5,250 00 
3,950 00 
2,760 00 
3,550 00 
4,150 00 
7,400 00 
4,400 00 
1,750 00 
7,000 00 
8,500 00 
3,900 00 
3,750 00 
7,300 00 
4,100 00 
6,000 00 
4,200 00 
8,400 00 
9,750 00 

10,670 00 
7,040 00 
4,700 00 
5,670 00 
3,450 00 
5,250 00 
1,400 00 
4,100 00 
880 00 
1,500 00 
1,500 00 

22,680 00 
860 00 
980 00 

16,600 00 
4,750 00 
4,750 00 
5,050 00 
4,500 00 
4,350 00 
3,360 00 

13,050 00 
5,150 00 
2,850 00 
4,850 00 
3,900 00 

16,400 00 
4,100 00 
3,800 00 
5,000 00 



LOWELL MUTUAL FIRE INSURANCE CO. 



61 



Swift & Company os, 1944, 
Waltham Watch note, 6s, 1924, 
Western Electric 1st 5s, 1922, . 
Western Electric conv. 7s, 1925, 
W T estern Telephone & Telegraph 5s, 1932, 
Western Union Telegraph 4|s, 1950, . 



Book Value. 


Rate. 


Market Value. 


$5,000 00 


90 


$4,500 00 


4,950 00 


96 


4,800 00 


2,988 75 


97 


2,910 00 


4,925 00 


99 


4,950 00 


3,000 00 


87 


2,610 00 


29,000 00 


84 


24,360 00 


$692,121 44 


$615,772 21 



LOWELL MUTUAL FIRE INSURANCE COMPANY, LOWELL. 

Incorporated March 6, 1832. Commenced business April, 1832. 
CLARENCE H. NELSON, President. JOSEPH PEABODY, Secretary. 

Office, 53 Central Street. 

Income. 
Net fire premiums, ....... 

Gross interest on mortgages, $126; stocks and bonds, $9,471.66 

bank deposits, $150.55, 
Gross profit on sale of stocks, 
Gross increase in book value of bonds, 
Borrowed money, .... 

Home office agency, 

Refund of federal tax, . 

Fire loss on office furniture and supplies, 

From all other sources, . 

Total income, 
Ledger assets, Dec. 31, 1919, . 



$84,738 22 


9,748 21 
194 20 


499 50 


5,000 00 
4,082 23 


330 92 


2,105 90 

91 28 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, . . 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, . 
Dividends to policy holders, ...... 

Gross loss on sale of stocks, ...... 

Borrowed money repaid, ...... 

Interest on borrowed money, ...... 

Total disbursements, ...... 

Balance, ........ 



$106,790 46 


229,261 09 


$336,051 55 


$29,214 25 


569 55 


13,396 91 


150 83 


31 20 


15,709 56 


2,891 61 


5 50 


749 30 


1,885 43 


774 03 


1,210 83 


580 52 


1,043 77 


28,179 59 


31 35 


5,000 00 


114 58 


$101,538 81 



$234,512 74 



62 



LOWELL MUTUAL FIRE INSURANCE CO. 



Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 



Nox-Ledger Assets. 
Interest due and accrued on mortgages, $20.75; bonds, $2,458.71, 

Gross assets, ......... 

• Assets not admitted. 

Overdue and accrued interest on bonds in de- 
fault, 8440 00 

Book value of stocks and bonds over market 

value, 24,706 00 



SI, 450 00 

201,900 00 

1,234 99 

19,169 94 

10,757 81 

8234,512 74 



2,479 46 
8236,992 20 



Admitted assets, 



25,146 00 
8211,846 20 



Liabilities. 
Unpaid losses, ..... 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Federal, state and other taxes due or accrued, 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



;.267 29 

123,082 77 

2,326 91 

420 50 

S129.097 47 
82,748 73 

$211,846 20 



Fire risks * 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$15,168,098 00 
6,452,461 00 



In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 



$21,620,559 00 
5,868,610 00 

815,751,949 00 
1,286,707 00 



Cash Prem's. 

8254,534 16 
101,130 44 

8355,664 60 
96,192 38 

8259,472 22 
21,766 26 



Conting't Prem's. 

8254,534 16 
101,130 44 

$355,664 60 
96,192 38 

8259,472 22 



$14,465,242 00 $237,705 96 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company. 
Cash dividends paid policy holders from organization of company, 
Dividends to policy holders during 1920: 20, 40 and 60 per cent. 



81,994,022 39 
691,935 59 
554,809 5S 



LOWELL MUTUAL FIRE INSURANCE CO. 



63 



Schedule A. Stocks and Bonds 

Railroad Stocks. 
37 shares Boston & Maine, . 
80 " Boston & Maine, 1st pref., class B, 
10 " Boston & Maine, 1st pref., class D, 
6 " Vermont & Massachusetts, 

Bank Stocks. 
16 shares Union National, Lowell, 

Miscellaneous Stocks. 
20 shares Hamilton Manufacturing, Lowell, 
32 " Lowell Bleachery, 
46 " Lowell Gas Light, . 
112 " Merrimack Manufacturing, Lowell, 

Government Bonds. 
United States 4Js, 1942, op. 1927, 
United States 4Js, 1942, op. 1927, 
United States 4Js, 1928, . 
United States 4is, 1938, op. 1933, 
United States 4is, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States 4fs, 1923, op. 1922, 
United States cert, of indebtedness 6s, 1921, 

Municipal Bonds. 
Boston, Mass., 4s, 1923, . 
Boston, Mass., 4s, 1937, . 
Bristol. Conn., 4£s, 1939, . 
Cleveland, O., 4fs, 1934, . 
Hartford, Conn., 4|s, 1933, 
Minneapolis, Minn., 4£s, 1927, . 
Medford, Mass., 4s, 1922, 
Melrose, Mass., 4s, 1926, . 
Middletown, Conn., 3£s, 1921, . 
Norwalk, Conn., 4s, 1927, 
Salem, Mass., tax exempt 4^s, 1925, 
Sharon, Mass., 4s, 1923-24, 

Railroad Bonds. 
Bay State Street notes, 5s, 1918-19, 
Boston & Albany 4s, 1935, 
Boston Elevated 4s, 1935, 
Boston & Lowell 4s, 1932, 
Boston & Maine 3^s, 1925, 
Boston & Maine 3|s, 1921, 
Central Vermont 5s, 1930, 
Chicago & Northwestern 4s, 1987, 
Chicago, Burl. & Quincy (111. Div.) 3£s, 1949, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago, Milw. & St. Paul conv. 4£s, 1932, 
Chicago, St. Paul, Minn. & Omaha 6s, 1930, 

Fitchburg 4s, 1925, 

Illinois Central (St. Louis Div.) 3£s, 1951, . 
New York Central & Hud. Riv. 3^s, 1997, . 
New York, New Haven & Hart. 4s, 1955-56, 
Portland & Rumford Falls 4s, 1926, . 
Portland Terminal 4s, 1961, 
Richmond-Washington coll. trust 4s, 1943, 
Southern Pacific 4s, 1929, 
Washington County 3|s, 1954, . 

Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 4s, 1929, 
New England Tel. & Tel. 5s, 1932, . 
New York Telephone 6s, 1949, . 
Western Electric 7s, 1925, 
Western Telephone & Telegraph 5s, 1932, 



OWNED BY THE COMPANY. 



Book Value. 


Rate. 


Market Value. 


$3,700 00 


35 


$1,295 00 


8,000 00 


75 


6,000 00 


1,000 00 


90 


900 00 


600 00 


87 


522 00 



1,600 00 



225 



3,600 00 



2,000 


00 


141 


2,820 00 


3,200 


00 


152 


4,864 00 


4,600 


00 


167 


7,682 00 


11,200 


00 


108 


12,096 00 


2,000 


00 


100 


2,000 00 


3,000 


00 


93 + 


2,794 80 


8,000 


00 


97 + 


7,764 00 


3,000 


00 


100 


3,000 00 


3,000 


00 


93 + 


2,795 40 


3,000 


00 


100 


3,000 00 


3,000 


00 


99 + 


2,980 80 


1,000 


00 


100 


1,000 00 


2,000 


00 


98 


1,960 00 


1,000 


00 


91 


910 00 


1,000 


00 


97 


970 00 


7,000 


00 


96 


6,720 00 


3,000 


00 


99 


2,970 00 


8,000 


00 


99 


7,920 00 


2,000 


00 


98 


1,960 00 


3,000 


00 


96 


2,880 00 


3,000 


00 


100 


3,000 00 


1,000 


00 


96 


960 00 


2,000 


00 


101 


2,020 00 


2,000 


00 


98 


1,960 00 


4,000 00 


8 


320 00 


. . 3,000 


00 


82 


2,460 00 


10,000 


00 


69 


6,900 00 


3,000 


00 


77 


2,310 00 


1,000 


00 


70 


700 00 


4,000 


00 


79 


3,160 00 


1,000 


00 


65 


650 00 


3,000 


00 


81 


2,430 00 


2,000 


00 


78 


1,560 00 


2,000 


00 


85 


1,700 00 


4,000 


00 


77 


3,080 00 


3,000 


00 


106 


3,180 00 


3,000 


00 


86 


2,580 00 


3,000 


00 


72 


2,160 00 


1,000 


00 


72 


720 00 


18,000 


00 


56 


10,080 00 


3,000 


00 


88 


2,640 00 


7,000 


00 


81 


5,670 00 


2,000 


00 


81 


1,620 00 


2,000 


00 


83 


1,660 00 


1,000 


00 


64 


640 00 


13,000 


00 


81 


10,530 00 


6,000 


00 


89 


5,340 00 


2,000 


00 


96 


1,920 00 


3,000 


00 


99 


2,970 00 


1,000 


00 


87 


870 00 


$201,900 00 


$177,194 00 



64 



THE LUMBER MUTUAL FIRE INSURANCE CO. OF BOSTON. 



THE LUMBER MUTUAL FIRE INSURANCE COMPANY OF BOSTON, 

MASSACHUSETTS. 

Incorporated Feb. 13, 1895. Commenced business March 28, 1895. 
GEORGE H. DAVENPORT, President. HARRY E. STONE, Secretary. 

Office, 141 Milk Street. 

Income. 
Net fire premiums, ....... 

Gross interest on bonds, $69,467.26; bank deposits, §7,377.26 

all other, $1.06, 

Agents' balances previously charged off, .... 
Gross profit on maturity of bonds, ..... 
Gross increase in book value of bonds, .... 
Gale and Stone agency, ....... 



Total income, ....... 

Ledger assets, Dec. 31, 1919, ...... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ...... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery, . 
Agents' balances charged off, ...... 

Dividends to policy holders, ...... 

Gross loss on maturity of bonds, ..... 

Gross decrease in book value of bonds, .... 

Auditing, ......... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Cash in office, ........ 

Deposits in trust companies and banks on interest, 
Agents' balances, ........ 

Total ledger assets, ...... 



$915,608 31 


76,845 58 


38 37 


20 67 


1,799 40 


40,000 00 


. $1,034,312 33 


. 1,597,433 22 


. $2,631,745 55 


. $260,551 81 


1,721 92 


62,213 14 


76 53 


224 37 


69,185 88 


7,103 48 


2,833 67 


14,399 86 


215 48 


15,089 58 


2,958 92 


1,967 04 


10,473 46 


6 38 


358,752 06 


1 64 


463 05 


S07 00 


1,823 67 


. $810,868 94 


. $1,820,876 61 


. $1,606,615 62 


2.217 00 


178,426 07 


33,617 92 


. $1,820,876 61 



THE LUMBER MUTUAL FIRE INSURANCE CO. OF BOSTON. 65 



Non-Ledger Assets. 
Interest due and accrued on bonds, $13,615.82; other assets, 

$200, $13,815 82 

Due from Gale and Stone agency, . . . . * . 44,124 21 



Gross assets, $1,878,816 64 



Assets not admitted. 
Agents' balances over three months due, . . $182 11 
Overdue and accrued interest on bonds in de- 
fault, 780 00 

Book value of bonds over market value, . 143,904 82 

Due from Gale and Stone agency, . . . 44,124 21 

Discount on Canadian bank deposits, . . 3,305 89 192,297 03 



Admitted assets, $1,686,519 61 



Liabilities. 

Unpaid losses, $19,859 53 

Unearned premiums on outstanding risks, . . . . 437,205 38 

Salaries, expenses and accounts due or accrued, . . . 875 78 

Federal, state and other taxes due or accrued, .... 10,508 55 



Total, $468,449 24 

Surplus to policy holders, ....... 1,218,070 37 



Total liabilities, including surplus, ..... $1,686,519 61 

Risks and Premiums. 

Fire risks: Risks. CashPrem's. Conting't Prem's. 

In force Dec. 31, 1919, . . $37,123,466 00 $759,205 80 $2,277,617 40 
Written during the year, . 49,893,681 00 1,006,067 11 3,018,201 33 



Total, .... $87,017,147 00 $1,765,272 91 $5,295,818 73 
Expired and terminated, . 43,122,656 00 890,833 43 2,672,500 29 



In force at end of year, . . $43,894,491 00 $874,439 48 $2,623,318 44 
Deduct reinsurance in recog- 
nized companies, . . 3,000 00 28 73 



Net amount in force, . $43,891,491 00 $874,410 75 



Miscellaneous. 
Net premiums received from organization of company, . . $8,248,121 87 

Net losses paid from organization of company, . . . 2,679,085 88 

Cash dividends paid policy holders from organization of company, 2,969,603 83 
Dividends to policy holders during 1920: 40 per cent. 



66 



THE LUMBER MUTUAL FIRE INSURANCE CO. OF BOSTON. 



Schedule A. Bonds owned 

Government Bonds. 
Canada b\s, 1929, . 
Canada b\s, 1922-34, 
United States 3£s, 1947, op. 1932, 
United States 3}s, 1947, op. 1932, 
United States 41s, 1942, op. 1927, 
United States 4}s, 1928, . 
United States 4 is, 1938, op. 1933, 
United States 4Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

State, County and Municipal Bonds. 
Akron, O., 4$s, 1930, 
Alberta 5s, 1926, 
Augusta, Ga., 4§s, 1942, . 
Boston, Mass., 3£s, 1922, . 
Boston, Mass., 3£s, 1925, . 
Boston, Mass., 3§s, 1935, . 
Brockton, Mass., 3£s, 1934, 
Brookline, Mass., 3*8, 1921, 
Brookline, Mass., 3^s, 1922, 
Brookline, Mass., 35s, 1923, 
Buffalo, N. Y., 4§s, 1944, . 
California 4s, 1940, . 
Cambridge, Mass., 3^s, 1921, 
Cambridge, Mass., 3^s, 1925, 
Canton, O., school district 4?s, 1955, 
Cleveland, O., 4*s, 1934, . 
Cleveland, O., 4§s, 1963, . 
Cuyahoga County, O., 5s, 1921, 
Cuyahoga County, O., 5s, 1922-23, 
Dayton, O., school district 5s, 1933, 
Detroit, Mich., 4s, 1944, . 
Falmouth, Mass., 3|s, 1929-30, 
Falmouth, Mass., 3£s, 1931, 
Flint, Mich., 4*s, 1929, . 
Framingham, Mass., 4s, 1925-26, 
Gloucester, Mass., 4s, 1921, 
Gloucester, Mass., 4s, 1922, 
Halifax, N. S., 5s, 1953, . 
Holyoke, Mass., 31s, 1924, 
Massachusetts 3|s, 1942, . 
Minneapolis, Minn., 4s, 1927, 
Minneapolis, Minn., 5s, 1929, 
Minneapolis, Minn., 4s, 1944", 
Nashville, Tenn., 4§s, 1923, 
New Bedford, Mass., tax exempt 4s, 1946, 
New Brunswick 5|s, 1929, 
Newport, R. I., 4*8, 1927, 
Newport, R. I., 4£s, 1938, 
Ontario 4s, 1926, 
Ontario 6s, 1935, 
Oregon 4s, 1936, 
Oregon 4£s, 1940, . 
Ottawa, Ont., 4§s, 1943, . 
Pawtucket, R. I., 4s, 1944, 
Pittsburgh, Pa., 4§s, 1926, 
Portland, Ore., 4s, 1934, . 
Quebec 5s, 1926, 
Rochester, N. Y., 4§s, 1945, 
St. Louis, Mo., 4^s, 1935, 
St. Paul, Minn., 4|s, 1933, 
St. Paul, Minn., 4£s, 1943, 
Seattle, Wash., 4^s, 1927, 
Seattle, Port of, Wash., 5s, 1941, 
Stamford, Conn., 4s, 1938, 
Stamford, Conn., 4s, 1942, 
Toronto, Ont., 4s, 1922, . 
Toronto, Ont., 4§S, 1925, . 
Toronto, Ont., 5§s, 1938, . 



by the Company. 



Book Value. 


Rate. 


Market Value. 


814,399 


96 


97 


$14 ' 


54,902 


95 


100 


55,000 00 


25,000 


00 


100 


25. 000 00 


10,000 


00 


99 + 


9,987 00 


25, 000 


00 


100 


00 00 


50,000 


00 


100 


50,000 00 


58,710 


52 [ 


100 
86 + 


50,000 00 

30 00 


40,000 


00 


100 


40.000 00 


5,056 


60 


96 


4,800 00 


4,750 


67 


93 


50 00 


9,917 


89 


97 


9,700 00 


4,946 


29 


98 


4,900 00 


9,888 


71 


95 


9.500 00 


9,000 


00 


87 


;o 00 


14,073 


20 


S8 


12,320 00 


2,500 


00 


100 


2,500 00 


2,490 


04 


98 


2.450 00 


2,480 


46 


07 


2.425 00 


10,266 


44 


100 


10,000 00 


4,867 


74 


89 


4.450 00 


5,005 


41 


100 


5,000 00 


15,090 


04 


95 


14,2£ 


10,357 


18 


92 


9,200 00 


5,200 


96 


96 


300 00 


5,194 


62 


93 


4,650 00 


1,001 


22 


100 


1,000 00 


3,023 


28 


101 


3,030 00 


5,284 


64 


101 


5,050 00 


14,866 


22 


91 


13,650 00 


2,887 


62 


91 


rao 00 


1,916 


04 


90 


1,800 00 


5,051 


52 


98 


4,900 00 


8,037 


63 


98 


7 -40 00 


2,001 


64 


100 


2,000 00 


1,002 


73 


99 


990 00 


4,828 


90 


92 


4,600 00 


9,679 


48 


96 


9,600 00 


3,921 


58 


85 


4,250 00 


4,893 


22 


96 


4,800 00 


4,836 


00 


102 


5,100 00 


9,777 


65 


90 


9,000 00 


10,110 


81 


99 


9,900 00 


4,625 


73 


94 


4,700 00 


9,827 


50 


99 


9,900 00 


5,135 41 


99 


4,950 00 


5,182 


17 


97 


4,850 00 


4,414 


71 


90 


4,500 00 


9,436 


04 


95 


9,500 00 


4,795 


72 


91 


4,550 00 


4,515 


47 


95 


4.750 00 


9,656 


71 


82 


8,200 00 


10,450 


28 


86 


8,600 00 


6,000 


00 


99 


5,940 00 


10,932 


09 


91 


10,010 00 


9,664 


22 


94 


9,400 00 


5,304 


87 


100 


5.000 00 


5,208 


76 


96 


4,800 00 


1,000 


00 


97 


970 00 


3,000 00 


95 


2,850 00 


5,000 


00 


97 


4,850 00 


5,162 


24 


100 


5,000 00 


5,162 


02 


93 


4,650 00 


4,957 


61 


92 


4,600 00 


4.949 


16 


97 


4,850 00 


4,734 


42 


93 


4,650 00 


9,900 


00 


91 


9,100 00 



THE LUMBER MUTUAL FIRE INSURANCE CO. OF BOSTON. 



67 



Toronto, Ont., harbor com'rs 4%s, 1953, 
Utah 4$s, 1935, 
Waltham, Mass., 3£s, 1921, 
Waterbury, Conn., 4s, 1941, 
Westmount, Que., 4£s, 1955, 
Woonsocket, R. L, 4Js, 1945, 

Railroad Bonds. 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Bait. & Ohio (Pitts., L. Erie & W. Va.) 4s, 1941, 
Boston & Albany 4s, 1933, 
Boston & Albany 5s, 1942, 
Boston & Albany 3^s, 1951, 
Boston Elevated 4§s, 1941, 
Boston Elevated 5s, 1942, 
Boston & Maine 4s, 1926, 
Boston & Maine 4§s, 1929, 
Boston & Maine 6s, 1930, 
Boston & New York Air Line 4s, 1955, 
Boston, Revere Beach & Lynn 4§s, 1927, 
Canadian National equip. 7s, 1935, 
Chicago, Burlington & Quincy 4s, 1949, 
Chicago Railways 5s, 1927, 
Cleveland Railway 5s, 1931, 
Columbus Railway Power & Light 5s, 1940 
Danville Street Railway & Light 5s, 1925, 
Delaware & Hudson 5s, 1935, 
Dutchess County 4£s, 1940, 
Eastern Massachusetts Street 6s, 1925, 
Eastern Massachusetts Street 4£s, 1948, 
Fitchburg 4£s, 1928, 
Florida East Coast 4£s, 1959, . 
Grand Trunk of Canada 7s, 1940, 
Grand Trunk Pacific Branch Lines 4s, 1939 
Illinois Central 4s, 1952, . 
International 5s, 1962, 
Iowa Railway & Light 5s, 1932, 
Kansas City & Memphis Ry. & Bridge 5s, 1929 
Kansas City Terminal 4s, 1960, 
Lake Shore & Michigan Southern 4s, 1931, 
Long Island ref. 4s, 1949, . 

Maine Central & Europ. & No. Amer. 4s, 1933, 
Middlesex & Boston St. 4£s, 1932, 
Minn., St. P. & S. Ste. M. (Cent. Term.) 4s, 1941 
Montreal Tramways 5s, 1941, 
New Bedford, Middlebor. & Brock. Street 5s, 1920 
New York Central equip. 7s, 1929, 
New York Central equip. 7s, 1931, 
New York Central equip. 7s, 1934, 
New York Central & Hudson River 4s, 1934, 
New York, New Haven & Hart. 6s, 1948, 
New York, New Haven & Hart. 4s, 1955-56, 
Northern Ohio Trac. & Light 4s, 1933, 
Northern Ohio Trac. & Light 5s, 1933, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Northern Texas Traction 5s, 1933, 
Old Colony 4s, 1938, 
Oregon Electric 5s, 1933, . 
Pacific Fruit Express equip. 7s, 1934, 
Pennsylvania Company 4s, 1952, 
Portland Railway, Light & Power 5s, 1942, 
Portland & Ogdensburg 4^s, 1928, 
Providence Securities 4s, 1957, . 
Scranton & Wilkes-Barre Traction 5s, 1951 
Seattle Electric 5s, 1929, . 
Texas Traction 5s, 1937, . 
Union Pacific 4s, 1947, 
Virginian 5s, 1962, . 
West End Street 4§s, 1923, 

Miscellaneous Bonds. 
Adirondack Electric Power 5s, 1962, 
Alabama Power 5s, 1946, . 



Book Value. 


Rate. 


Market Value. 


$3,716 14 


75 


$3,750 00 


10,319 73 


97 


9,700 00 


7,005 85 


100 


7,000 00 


5,070 13 


90 


4,500 00 


4,667 51 


74 


3,700 00 


5,074 37 


96 


4,800 00 


4,700 00 


81 


4,050 00 


4,657 93 


69 


3,450 00 


15,141 06 


84 


12,600 00 


4,909 88 


92 


4,600 00 


3,752 19 


68 


2,720 00 


10,000 00 


68 


6,800 00 


5,000 00 


76 


3,800 00 


8,050 54 


78 


6,240 00 


5,138 81 


79 


3,950 00 


5,000 00 


75 


3,750 00 


9,957 23 


69 


6,900 00 


10,285 29 


90 


9,000 00 


9,850 00 


101 


10,100 00 


5,077 01 


85 


4,250 00 


4,979 31 


75 


3,750 00 


5,000 00 


89 


4,450 00 


9,773 24 


71 


7,100 00 


10,026 97 


83 


8,300 00 


5,169 13 


92 


4,600 00 


5,252 34 


78 


3,900 00 


800 00 


20 


160 00 


14,654 25 


28 


4,480 00 


11,216 65 


81 


8,910 00 


4,780 46 


83 


4,150 00 


9,978 93 


102 


10,200 00 


6,559 69 


79 


7,678 80 


8,965 22 


77 


7,700 00 


7,635 85 


64 


5,120 00 


2,948 01 


84 


2,520 00 


5,106 59 


87 


4,350 00 


4,903 10 


77 


3,850 00 


9,441 67 


87 


8,700 00 


9,983 39 


76 


7,600 00 


5,047 55 


77 


3,850 00 


4,940 28 


70 


3,500 00 


4,875 73 


83 


4,150 00 


7,985 99 


78 


6,240 00 


5,000 00 


58 


2,900 00 


4,000 00 


103 


4,120 00 


2,000 00 


104 


2,080 00 


5,000 00 


104 


5,200 00 


4,923 79 


83 


4,150 00 


11,046 20 


84 


8,400 00 


25,489 36 


56 


14,560 00 


13,023 66 


76 


11,400 00 


4,761 39 


81 


4,050 00 


4,985 58 


97 


4,850 00 


7,943 08 


90 


7,200 00 


5,092 93 


80 


4,000 00 


2,956 64 


63 


1,890 00 


5,043 33 


104 


5,200 00 


4,886 56 


83 


4,150 00 


3,645 35 


63 


2,520 00 


5,116 00 


88 


4,400 00 


8,615 67 


46 


4,600 00 


7,662 16 


80 


6,400 00 


4,797 77 


86 


4,300 00 


4,808 33 


78 


3,900 00 


9,377 80 


85 


8,500 00 


4,956 80 


88 


4,400 00 


5,023 72 


94 


4,700 00 


13,304 52 


85 


12,750 00 


9,230 50 


85 


8,500 00 



68 



THE LUMBER MUTUAL FIRE INSURANCE CO. OF BOSTON. 



American Agricultural Chemical 5s, 1928, . 

American Telephone & Telegraph 5s, 194G, 

Armour & Co. 4§s, 1939, .... 

Baltimore Electric 5s, 1947, 

Bell Telephone, Canada, 5s, 1925, 

Blackstone Valley Gas & Electric 5s, 1939, 

Brooklyn Edison 5s, 1949, 

Carolina & Palmetto & Yad. Riv. P. & L. 6s, 1924 

Central Maine Power 5s, 1939, . 

Chicago Telephone 5s, 1923, 

Cleveland Electric Illuminating 7s, 1935, . 

Columbus Power 5s, 1936, 

Consolidated Gas, Elec. Lt. & Power 41s, 1935, 

Consumers Power 5s, 1936, 

Dallas Power & Lt. 6s, 1949, . 

Denver Gas & Electric 5s, 1949, 

Detroit Edison 5s, 1933, . 

Dominion Power & Transmission 5s, 1932, . 

Duquesne Light 6s, 1949, .... 

Eastern Texas Electric 5s, 1942, 

Edison Electric, Los Angeles, 5s, 1922, 

El Paso Electric 5s, 1932, 

Electrical Development, Ont., 5s, 1933, 

Empire District Electric 5s, 1949, 

Great Western Power 5s, 1946, . 

Hamilton Elec. Lt. & Cataract Pwr. 5s, 1929, 

Laurentide Power 5s, 1946, 

Los Angeles Gas & Electric 5s, 1939, . 

Massachusetts Gas 4|s, 1931, . 

Minneapolis General Electric 5s, 1934, 

Mississippi River Power 5s, 1951, 

Missouri Edison Electric 5s, 1927, 

Montana Power 5s, 1943, .... 

Montreal Light, Heat & Power 4§s, 1932, . 

Nebraska Power 5s, 1949, 

Nevada-California Electric 6s, 1946, . 

New Brunswick Power 5s, 1937, 

New England Power 5s, 1951 1 . 

New England Tel. & Tel. 5s, 1932, . 

Niagara Falls Power 6s, 1950, . 

Niagara, Lockport & Ontario Power 5s, 1954, 

Northern States Power 5s, 1941, 

Ontario Power, Niagara Falls, 5s, 1943, 

Pacific Coast Power 5s, 1940, 

Pennsylvania-Ohio Power & Light 7£s, 1940, 

Portland General Electiic Ss^ 1935, 

San Francisco Gas & Electric 4?s, 1933, 

Scranton Electric 5s, 1937, 

Shawinigan Water & Power 5§s, 1950, 

Sierra & San Francisco Power 5s, 1949, 

Southern California Edison 5s, 1939, 

Southern California Edison 6s, 1944, 

Southern Power 5s, 1930, . 

Tennessee Power 5s, 1962, 

Texas Power & Light 5s, 1937. . 

United Electric Light & Power 4|s, 1929, 

United Electric Securities 5s, 1942-43, 

Utah Power & Light 5s, 1944, . 

Utica Gas & Electric 5s, 1957, . 

West Penn. Power 6s, 1958, 

Western Electric 5s, 1922, 

Wisconsin Electric Power 7|s, 1945, 

Wisconsin-Minnesota Light & Power 5s, 1944, 

Yadkin River Power 5s, 1941, . 



Book Value. 

$4,896 40 

11,677 28 
4,835 88 
8,193 39 
9,610 68 
5,107 57 
5,257 04 
9,738 82 
9,857 64 
5,035 02 
9,511 95 
4,556 28 
1,884 14 
9,697 30 
5,000 00 
9,296 49 

15,190 89 

13,702 32 
4,828 34 
4,745 35 

10,007 90 
1,965 18 
4,179 23 
9,067 53 
8,017 98 

14,976 02 
4,350 99 
4,893 22 
4,923 79 
7,277 55 
7,358 46 
6,033 41 
4,477 89 
4,766 06 
8,511 35 
9,480 70 
8,584 66 

14,014 56 

14.197 05 
8,725 00 
4,833 92 
8,545 60 
4,670 60 
4,573 41 
4,800 94 

12,143 84 
7,661 06 
9,922 54 
8,096 21 
8,774 02 
7,854 26 
4,902 27 

14,852 34 
4,410 45 
9,362 19 
6,727 00 
9,908 15 
9,539 19 
4,652 S3 
9,810 44 
4,995 30 
9,856 44 
4,365 22 
1,541 88 

81,606,615 62 



Rate. 
96 

82 
89 
87 
90 
80 
93 
87 
95 
99 
85 
79 
87 
93 
85 
94 
83 
95 
81 
96 
83 
86 
72 
81 
85 
83 
90 
82 
88 
78 
90 
88 
83 
81 
87 
75 
88 
89 
88 
90 
82 
85 
85 
97 
85 
83 
87 
82 
80 
85 
93 
90 
59 
84 
84 
83 
84 
85 
91 
97 
100 
82 
73 



Market Value. 
$4,800 00 
10,320 00 
4,100 00 
>0 00 
8,700 00 
4,500 00 
5,000 00 
9,300 00 
8,700 00 
4,750 00 
9,900 00 
4,250 00 
1,580 00 
8,700 00 
4,650 00 

15.040 00 

12,450 00 
4,750 00 
4,050 00 
9,600 00 
1,660 00 
4,300 00 
7,200 00 
8,100 00 

12,750 00 
4,150 00 
4,500 00 
4,100 00 
7,040 00 
7,800 00 
5,400 00 
4,400 00 
4,150 00 
8,100 00 
8,700 00 
7,500 00 

13,200 00 

13,350 00 
8,800 00 
4,500 00 
8,200 00 
4,250 00 
4,250 00 
4,850 00 

11,050 00 
6,640 00 
8.700 00 
8,200 00 
8,000 00 
6,800 00 
4,650 00 

13,500 00 
2,950 00 
8,400 00 
5,880 00 
8,300 00 
8,400 00 
4.250 00 
9,100 00 
4,850 00 

10,000 00 
4,100 00 
1,460 00 

Sl.462,710 80 



LYNN MANUFACTURERS AND MERCHANTS MUTUAL FIRE INS. CO. 69 



LYNN MANUFACTURERS AND MERCHANTS MUTUAL FIRE 
INSURANCE COMPANY, LYNN. 

Incorporated Jan. 11, 1907. Commenced business Jan. 11, 1907. 

Guaranty Capital, $100,000. 

WILMOT R. HASTINGS, President. JOHN H. MADDEN, Secretary. 

Office, 34 Central Square. 

Income. 

Net fire premiums, ... . . . $31,981 22 

Gross interest on mortgages, $5,014.77; stocks and bonds, 

$1,858.37; bank deposits, $554.39, ..... 7,42753 

Gross increase in book value of stocks and bonds, . . . 1,656 48 

Total income, $41,065 23 

Ledger assets, Dec. 31, 1919, 150,760 71 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 

Salaries and fees of directors, officers and clerks, 

Inspections, surveys, underwriters' boards and tariff associations 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Advertising, subscriptions, printing and stationery, 

Taxes on real estate, 

Dividends to policy holders, 

Dividends on guaranty capital 

All other disbursements, 

Total disbursements, 

Balance, 



Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of stocks and bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, . . . . . 

Total ledger assets, .... 



Non-Ledger Assets. 
Interest due and accrued on mortgages, $500.82; bonds, $347.53, 



. $191,825 94 


$4,213 32 


104 60 


6,086 54 


745 80 


i, 40 33 


540 19 


216 41 


283 81 


1,016 98 


815 87 


6,796 86 


7,000 00 


33 10 


$27,893 81 


. $163,932 13 


$6,501 00 


79,165 00 


47,079 50 


75 00 


23,678 25 


7,433 38 


. $163,932 13 



848 35 



Gross assets, 



$164,780 48 



70 LYNN MANUFACTURERS AND MERCHANTS MUTUAL FIRE INS. CO. 



Assets not admitted. 
Book value of stocks and bonds over market value, 

Admitted assets, ..... 



13 09 



$164,487 39 



Liabilities. 

Unpaid losses, . .... 

Unearned premiums on outstanding risks, 
Federal, state and other taxes due or accrued, 

Total, 

Guaranty capital, ..... 
Surplus over all liabilities, . ... 
Surplus to policy holders, 

Total liabilities, including surplus, 



8100,000 00 
30,675 21 



$2,912 38 

30,299 80 

600 00 

$33,812 18 



130,675 21 
$164,487 39 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the 3 r ear, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$4,897,258 00 
3,718,150 00 



In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



$8,615,408 00 
3,068,751 00 

$5,546,657 00 

502,875 00 

$5,043,782 00 



Cash Prem's. Conting't Prem's. 

$49,665 01 $49,665 01 
37,437 75 37,437 75 



$87,102 76 $87,102 76 
29,052 89 29,052 89 



$58,049 87 | ^49 87 
5,642 94 



$52,406 93 



Miscellaneous. 
Net premiums received from organization of company, . . $178,019 72 
Net losses paid from organization of company, . . . 50,601 42 

Cash dividends paid policy holders from organization of company, 32,839 69 
Dividends to policy holders during 1920: 20, 30 and 40 per cent. 



Schedule A. Stocks and Bonds owned by the Company. 

Bank Stocks. 
27 shares Central National, Lynn, 
30 " Essex Trust, Lynn, 

Miscellaneous Stocks. 
10 shares Lynn Storage Warehouse, . 

Government Bonds. 
French Republic 8s, 1945, 
United States 3£s, 1947, op. 1932, 
United States 4s, 1947, op. 1932, 
United States 4s, 1942, op. 1927, 
United States 4Js, 1942, op. 1927, 
United States 4Js, 1942, op. 1927, 

United States 4is, 1928 

United States 4Js, 1938, op. 1933, 
United States 4-Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 



Book Value. 


Rate. 


Market Value. 


$7,020 


00 


250 


S6.750 00 


6,000 


00 


195 


5,850 00 


1,000 


00 


100 


1,000 00 


4,975 


00 


102 


5,100 00 


750 


00 


99 


742 50 


142 


50 


93 + 


139 74 


1,302 


00 


92 + 


1,289 47 


1,000 


00 


100 


1,000 00 


279 


00 


92 + 


276 82 


1,330 


00 


93 + 


1,314 14 


10,881 


00 


93 + 


10,945 74 


10,200 


00 


100 


10,200 00 


2,200 


00 


99 


2,178 00 


S4 7,079 


50 


S46.786 41 



LYNN MUTUAL FIRE INSURANCE CO. 71 



LYNN MUTUAL FIRE INSURANCE COMPANY, LYNN. 

Incorporated Feb. 20, 1828. Commenced business Aug. 1, 1828. 
SAMUEL H. HOLLIS, President. PRESCOTT KEYES, Secretary. 

Office, 18 Central Avenue. 

Income. 

Net fire premiums, $128,715.30; marine, $18,719.72, . . . $147,435 02 
Gross interest on mortgages, $1,154.70; stocks and bonds, 

$7,194.32; bank deposits, $259.82, 8,608 84 

Gross profit on maturity of bonds, ...... 74 50 



Total income, $156,118 36 

Ledger assets, Dec. 31, 1919, 183,775 66 



Total, $339,894 02 

Disbursements. 

Net amount paid policy holders for fire losses, $38,104.15; marine, 

$4,485.15, $42,589 30 

Agents' compensation, including brokerage, . . . 33,492 87 

Salaries and fees of directors, officers and clerks, . . . 2,225 49 

Federal taxes, . 293 89 

Postage, telegraph, telephone, exchange and express, . . 52 21 

Advertising and subscriptions, . . . . . 15 00 

Dividends to policy holders, ....... 19,940 38 

Management expenses, ........ 15,795 04 

All other disbursements, ....... 30 00 



Total disbursements, $114,434 18 



Balance, $225,459 84 

Ledger Assets. 

Mortgage loans on real estate, ...... $19,750 00 

Book value of stocks and bonds (Schedule A), .... 179,29930 

Deposits in trust companies and banks on interest, . . . 7,667 15 

Agents' balances, 18,743 39 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest due and accrued on mortgages, $325.61 ; bonds, $2,846.09, 

Gross assets, ..... 

Assets not admitted. 

Agents' balances over three months due, . 

Overdue and accrued interest on bonds in de- 
fault, ....... 

Book value of stocks and bonds over market 
value, . . . . . . 

Admitted assets, . $216,239 87 



. 


$225,459 84 


nds, $2,846.09, 


3,171 70 


. 


$228,631 54 


$1,632 74 




639 83 




10,119 10 


12,391 67 



72 



LYNN MUTUAL FIRE INSURANCE CO. 



Liabilities. 

Unpaid losses, $8,995.04; less recognized reinsurance, 8239.41, . $8,755 63 

Unearned premiums on outstanding risks, .... 122,483 44 

Dividends due policy holders, ...... 540 34 

Salaries, expenses and accounts due or accrued, . . 315 80 

Federal, state and other taxes due or accrued, .... 1,50000 

Total, $133,595 21 

Surplus to policy holders, ....... 82,644 66 



Total liabilities, including surplus, 



8216,239 87 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 

Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, ~~ . 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, ■ . 



Risks and Premiums. 

Risks. 

. $13,610,403 00 
. 15,207,074 00 



$28,817,477 00 
10,115,767 00 

$18,701,710 00 
2,969,908 00 



$839,245 00 
1,909,937 00 

$2,749,182 00 
1,353,578 00 

$1,395,604 00 
555,531 00 

$840,073 00 



CashPrem's. Conting't Prem's. 

$199,818 16 $181,83.s 70 
174,514 10 103,204 45 



$374,332 26 $285,043 15 
121,934 21 75,602 54 



$252,398 05 $209,440 61 
47,253 04 



$15,731,802 00 $205,145 01 



$15,984 58 $6,867 17 
36,336 90 16,179 08 



$52,321 48 $23,046 25 
23,915 27 12,350 20 



$28,406 21 $10,696 05 
10,167 48 



$18,238 73 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policv holders from organization of company, 
Dividends to policy holders during 1920: 20, 30, 40, 50 and 60 

per cent. 
Net premiums written during the year: motor vehicles, $18,719.72 ; 

wind storms and tornadoes, $233.09; explosion, $13.54. 
Losses incurred during the year: motor vehicles, $4,649.11; wind 

storms and tornadoes, $87.71; explosion, $0.33. 



$827,865 45 

200,808 77 

232.242 4^ 



LYNN MUTUAL FIRE INSURANCE CO. 



73 



Graton & Knight Mfg., preferred, 
Old Bay State Insurance Co., 
Union Twist Drill, preferred, 
United Electric Securities, preferred, 
Winnsboro Mills, preferred, 



Schedule A. Stocks an 

Bank Stocks. 
5 shares Central National, Lynn, 
20 " Essex Trust, Lynn, 
10 " Merchants National, Boston, 

Miscellaneous Stocks. 
10 shares Federal Rubber, preferred, 
10 
10 
10 
10 
10 

Government Bonds. 
British government 55s, 1922, . 
United States 4Js, 1942, op. 1927, 
United States 4 is, 1928, . 
United States 4}s, 1938, op. 1933, 
United States 4Js, 1938, op. 1933. 
United States 4fs, 1923, op. 1922. 
United States 4 is, 1923, op. 1922, 
United States War Savings Stamps (issue of 1918), 

State and Municipal Bonds. 
Beverly, Mass., 4s, 1923, .... 
Beverly, Mass., 4s, 1922, .... 
Boston, Mass., 4s, 1921, .... 
Bridgeport, Conn., 4£s, 1935, 
Brockton, Mass., tax exempt 4s, 1921, 
Brockton, Mass., tax exempt 4s, 1923, 
Brookline, Mass., 4s, 1923, 
Duluth, Minn., 4£s, 1941, 

Holyoke, Mass., 4s, 1922 

Kansas City, Mo., 4s, 1935, 

Kennebec Water District, Me., 1st 3§s, 1925, 

Minneapolis, Minn., 4s, 1927, . 

Minneapolis, Minn., 4s, 1941, . 

New Britain, Conn., 5s, 1923, . 

Norwich, Conn., 4s, 1931, 

Omaha, Neb., 1st 4£s, 1941, 

Quebec 5s, 1926, 

Quincy, Mass., 4s, 1924, .... 
Taunton, Mass., 4s, 1922, 

Railroad Bonds. 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Bangor & Aroostook (Pise. Div.) 1st 5s, 1943, 
Bay State Street notes, 5s, 1930, 
Boston & Albany 4s, 1934, 
Boston & Albany ref. 5s, 1963, . 
Boston & Providence 6s, 1923, . 
Chicago, Burl. & Quincy gen. 4s, 1958, 
Chicago, Burl. & Quincy (111. Div.) 3*s, 1949, 
Chicago & Eastern 111. ref. 4s, 1955, . 
Chicago & Great Western 1st 5s, 1936, 
Chicago, Indiana & Southern 1st cons. 4s, 1956, 
Chicago, Rock Island & Pacific 1st 4s, 1934, 
Cleveland, Cinn., Chic. & St. Louis 6s, 1929, 
Current River 1st 5s, 1927, 
International of Buffalo 1st 5s, 1962, . 
Iowa Central 5s, 1938, 
Jacksonville Electric 1st 5s, 1927, 
Minneapolis Street & St. Paul City cons. 5s, 1928 
National of Mexico prior lien 4^s, 1957, 
Ogdensburg & Lake Champlain 1st 4s, 1948, 
Pennsylvania 4|s, 1965, .... 
Portland Terminal 1st 4s, 1961, 
Rock Island-Frisco Term. 5s, 1927, 
St. Louis & San Francisco prior lien 5s, 1950, 
St. Paul Union Depot 5£s, 1923, 
Southern Pacific 1st ref. 4s, 1955, 
Southern Pacific conv. 4s, 1929, 



> OWNED BY THE 


COMPAS 


Y. 


Book Value. 


Rate. ■ 


Market Value. 


$500 00 


250 


$1,250 00 


3,600 


00 


195 


3,900 00 


1,392 


50 


277 


2,770 00 


990 


00 


90 


900 00 


995 


00 


90 


900 00 


3,200 


00 


320 


3,200 00 


1,000 


00 


98 


980 00 


1,000 


00 


90 


900 00 


1,010 


00 


98 


980 00 


1,960 


00 


97 


1,940 00 


3,000 


00 


100 


3,000 00 


2,000 


00 


100 


2,000 00 


6.000 


00 


100 


6.000 00 


4,501 


40 


86 + 


4,501 40 


14,000 


00 


100 


14,000 00 


9,609 


80 


96 + 


9,609 80 


846 


00 


— 


894 00 


948 


20 


98 


980 00 


965 


30 


99 


990 00 


4,893 


75 


100 


5,000 00 


1,032 


90 


95 


950 00 


498 


13 


100 


500 00 


497 


50 


99 


495 00 


3,834 


00 


98 


3,920 00 


2,062 


00 


94 


1,880 00 


1,950 


00 


99 


1,980 00 


1,006 


25 


91 


910 00 


912 


50 


94 


940 00 


1,000 


00 


96 


960 00 


1,000 


00 


90 


900 00 


975 


10 


101 


1,010 00 


1,000 


00 


94 


940 00 


982 


50 


95 


950 00 


2,015 


00 


94 


1,880 00 


1,857 


40 


98 


1,960 00 


973 


70 


99 


990 00 


2,000 


00 


81 


1,620 00 


1,080 


00 


73 


730 00 


1,000 


00 


8 


80 00 


1,632 


50 


84 


1,680 00 


2,067 


50 


89 


1,780 00 


2,030 


00 


100 


2,000 00 


2,005 


00 


83 


1,660 00 


1,775 


00 


78 


1,560 00 


815 


00 


40 


400 00 


2,020 


00 


85 


1,700 00 


952 


50 


76 


760 00 


1,832 


50 


70 


1,400 00 


1,825 


00 


92 


1,840 00 


1,000 


00 


85 


850 00 


1,950 


00 


64 


1,280 00 


1,061 


25 


79 


790 00 


1,880 


00 


75 


1,500 00 


1,010 


00 


82 


820 00 


470 


98 


29 


174 00 


2,050 


00 


60 


1,200 00 


978 


75 


88 


880 00 


917 


50 


81 


810 00 


2,091 


25 


84 


1,680 00 


900 


00 


77 


770 00 


990 


00 


98 


980 00 


951 


25 


80 


800 00 


3,535 


00 


83 


3,320 00 



74 merchants' and farmers' mutual fire insurance co. 



Miscellaneous Bonds. 
Adams Express coll. trust 4s, 1947, 
Adirondack Electric Power 1st 5s, 1962, 
Adirondack Power & Light 6s, 1950, . 
American Agricultural Chemical 5s, 1924, 
American Tel. & Tel. coll. trust 4s, 1929, 
American Tel. & Tel. coll. trust 5s, 1946, 
American Tel. & Tel. coll. trust 6s, 1922, 
American Thread 6s, 1928, 
Carolina & Palmetto & Yad. Riv. P. & L. 6s 
Central Massachusetts Electric 6s, 1924, 
Commonwealth Power 1st 5s, 1924, . 
Consumers Power 1st 5s, 1936, . 
Duquesne Light 1st coll. trust 6s, 1949, 
Empire Gas & Fuel 6s, 1924, . 
Fitchburg Gas & Electric 6s, 1923, . 
General Electric 6s, 1940, 
Hartford Electric Light 7s, 1930, 
Hydraulic Race 1st 6s, 1936, 
Illinois Steel deb. 4|s, 1940, 
Louisville Gas & Electric 7s, 1923, 
Maiden Electric 6s, 1924, . 
New England Power 1st 5s, 1951, 
New England Tel. & Tel. 5s, 1932, . 
Securities Co., series C, 4s, 
Shawinigan Water & Power 5^s, 1950, 
Southern California Edison gen. 5s, 1939, 
United Electric Securities 5s, 1936, 
United Electric Securities 5s, 1939, 
United Electric Securities 5s, 1942, 



1924 



00 
00 
39 
75 
50 



Book Value. 

SI, 660 00 

1,000 00 

875 
2,730 
3,669 

498 
2,977 
2,992 50 
1,925 00 
3,000 00 
1,900 00 

980 00 
1,000 00 
2,925 00 
1,000 00 

945 00 
3,000 00 
1,950 00 

875 00 
1,007 50 
1,000 00 

990 00 
2,021 25 

800 00 
1,680 00 
2,940 00 
5,112 50 
1,025 00 
1,990 00 

§179,299 30 



Rate. 
80 
85 

97 
81 

86 

98 
98 
93 
94 
92 
87 
95 
90 
98 
98 
100 
97 
86 
99 
98 
88 
89 
62 
82 
85 
85 
84 
83 



Market Value. 

$1,200 00 

00 

i 00 

2,910 00 

3,240 00 

430 00 

2,940 (JO 

2,940 00 

1,860 00 

_'0 00 

1,840 00 

» fXJ 

950 00 

2,700 00 

30 00 

» 00 

3,000 00 

1,940 00 

00 

990 00 

W 00 

30 00 

1,780 00 

496 00 

1,640 00 

2,550 00 

4,250 00 

*40 00 

1,660 00 

$169,180 20 



MERCHANTS' AND FARMERS' MUTUAL FIRE INSURANCE 
COMPANY, WORCESTER. 

Incorporated April 1, 1846. Commenced business Jan. 1, 1847. 
ALEXANDER H. BULLOCK, President. HARRY S. MYRICK, Secretary. 

Office, 314 Main Street. 



Income. 

Net fire premiums, S172T965.19; marine, $2,736.92, . . S175,702 11 
Gross interest on mortgages, $3,712.02; stocks and bonds, 

810,569.17; bank deposits, S847.34, 15,128 53 

Gross increase in book value of bonds, . . . . . 124 25 

Refund of federal tax, 272 79 

Total income, S191,227 68 

Ledger assets, Dec. 31, 1919, 339,863 05 

Total, S53 1,090 73 

Disbursements. 
Net amount paid policy holders for fire losses, $64,418.90 ; marine, 

$142.71, S64,561 61 

Loss adjustment expenses, ....... 1,065 35 

Agents' compensation, including brokerage, .... 37,294 12 

Agents' allowances, ........ 226 32 

Field supervisory expenses, . . . . . . . 2,941 76 

Salaries and fees of directors, officers and clerks, . . . 17,427 08 

Rents, 1,779 48 



MERCHANTS AND FARMERS MUTUAL FIRE INSURANCE CO. 



/O 



Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ... 

Advertising, subscriptions, printing and stationery, . 

Agents' balances charged off, ...... 

Dividends to policy holders, ...... 

Gross loss on sale of stocks and bonds, .... 

Gross decrease in book value of stocks and bonds, 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 



$2,672 73 

844 57 

2,849 07 

1,541 10 

2,593 18 

485 67 

116 25 

3,539 27 

24 66 

25,541 36 

855 48 

14,890 04 

490 05 

$181,739 15 

§349,351 58 



Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, . . 

Total ledger assets, .... 



$68,300 00 

227,954 60 

1,658 50 

26,829 12 

24,609 36 

$349,351 58 



Xox-Ledger Assets. 

Interest due and accrued on mortgages, $954.44; bonds, $3,596.18; 
other assets, $195.36, ........ 

Market value of stocks and bonds over book value, . 
Reinsurance recoverable on paid losses, ..... 

# 

Gross assets, ......... 



4,745 98 

3,991 75 

23 16 



$358,112 47 



$475 05 
854 17 



Assets not admitted. 

Agents' balances over three months due, . 
Overdue and accrued interest on bonds in de- 
fault, ....... 

Admitted assets, ..... 



Liabilities. 

Unpaid losses, $18,611.99; less recognized reinsurance, $4,722.75, 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Salaries, expenses and accounts due or accrued, 

Federal, state and other taxes due or accrued, . 

Contingent commissions or other charges due or accrued, 

Return premiums, .... 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



1,329 22 



$356,783 25 



$13,889 24 

200,265 17 

1,675 30 

628 68 

2,011 58 

402 39 

2,318 30 

$221,190 66 
135,592 59 

S356,783 25 



76 



merchants' and farmers' mutual FIRE INSURANCE CO. 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$38,077,510 00 
24,235,029 00 



Cash Prem'a. 

$406,457 19 
242,338 82 



Conting't Prem'g. 

$400,457 19 
242,338 82 



In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 

Marine risks: 
Written during the year, 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



$62,312,539 00 
18,222,654 00 

$44,089,885 00 

8,768,965 00 



$648,796 01 $648,796 01 
189,639 21 189,639 21 



$459,156 80 $459,156 80 
86,489 21 



$35,320,920 00 $372,667 59 



$165,377 00 
10,650 00 

$154,727 00 

69,327 00 

$85,400 00. 

Miscellaneous. 



$4,259 06 
299 49 



$4,259 06 
299 49 



$3,959 57 $3,959 57 
1,293 59 



$2,665 98 



Net premiums received from organization of company, . . $5,440,917 96 

Net losses paid from organization of company, . . . 2,836,520 89 

Cash dividends paid policy holders from organization of company, 1,567,780 39 

Dividends to policy holders during 1920: 20 per cent. 

Net premiums written during the year: motor vehicles, $3,959.57. 

Losses incurred during the year: motor vehicles, $123.45. 

Schedule A. Stocks and Bonds 

Stocks. 
12 shares Worcester Bank & Trust, 
49 " Worcester Gas Light, 

Government Bonds. 
United States 4Js, 1942, op. 1927, 
United States 4|s, 1942, op. 1927, 
United States 4 is, 1928, . 
United States 4£s, 1928, . 
United States 41s, 1938, op. 1933, 
United States 4Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States 41s, 1923, op. 1922, 

County and Municipal Bonds 
Astoria, Ore., 5s, 1953, op. 1923, 
Hamilton County, Tenn., 5s, 1944, 
Houston, Tex., 5s, 1931, . 
Los Angeles, Cal., 4§s, 1932, 
Memphis, Tenn., 4£s, 1945, 
Nashville, Tenn. (Tenn. Cent. R.R.), 4s, 192-4, 
Omaha, Neb., 4§s, 1932, . 
Richmond, Va., 4s, 1948, . 
San Diego, Cal., 5s, 1927-28, 
Seattle, Wash., 4^s, 1931, . 
Toronto, Ont., 4s, 1948, . 

Railroad Bonds. 
Bay State Street notes, 5s, 1926, 
Boston & Albany imp. 4s, 1935, 
Boston & Worcester Street 1st 4£s, 1923, 



3 OWNED BY THE 


Company. 


Book Value. 


Rate. 


Market Value. 


§2,616 


00 


21s 


$2,616 00 


5,194 


00 


106 


5,194 00 


12,750 


00 


90 + 


13,506 76 


10,000 


00 


100 


10,000 00 


23,760 


00 


93 + 


25.140 89 


3,000 


00 


100 


3,000 00 


21,250 


00 


90 + 


22.730 12 


5,000 


00 


100 


5,000 00 


19,200 


00 


98 + 


19,733 98 


10,000 


00 


100 


10,000 00 


6,720 


00 


96 


6,720 00 


4,080 


00 


98 


3,920 00 


5,000 


00 


100 


5,000 00 


1,920 


00 


96 


1,920 00 


4,750 


00 


95 


4.750 00 


4,850 


00 


97 


30 00 


4,850 


00 


97 


4,850 00 


4.350 


00 


^7 


4.350 00 


10,100 


00 


101 


10,100 00 


9,600 


00 


96 


9,600 00 


4,029 


60 


69 


4,029 60 


400 


00 


8 


400 00 


4,100 


00 


82 


4.100 00 


3,840 00 


64 


3,840 00 



MERRIMACK MUTUAL FIRE INSURANCE CO. 



77 



Buffalo & Susquehanna 4s, 1963, 

Chicago, Rock Island & Pacific 1st ref. 4s, 1934, 

Interborough Rapid Transit 1st ref. 5s, 1966, 

Middlesex & Boston Street 1st ref. 4£s, 1932, 

New York Central conv. deb. 6s, 1935, 

Pennsylvania Co. 1st 4|s, 1921, 

Peoria 1st ref. 5s, 1926, .... 

St. Louis, Ir. Mt. & South. (R. & G. Div.) 4s, 1933, 

Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 4s, 1929, . 
Michigan State Telephone 1st 5s, 1924, 
Minneapolis Gas 1st 5s, 1930, . 
Utah Power & Light 1st 5s, 1944, 



Book Value. 


Rate. 


Market Value. 


$2,555 00 


73 


$2,555 00 


t, 7,000 00 


70 


7,000 00 


3,100 00 


62 


3,100 00 


3,500 00 


70 


3,500 00 


4,750 00 


95 


4,750 00 


5,000 00 


100 


5,000 00 


4,300 00 


86 


4,300 00 


3,700 00 


74 


3,700 00 


2,430 00 


81 


2,430 00 


4,500 00 


90 


4,500 00 


2,400 00 


60 


2,400 00 


3,360 00 


84 


3,360 00 


$227,954 60 


$231,946 35 



MERRIMACK MUTUAL FIRE INSURANCE COMPANY, ANDOVER. 

Incorporated Feb. 7, 1828. Commenced business April 8, 1828. 
BURTON S. FLAGG, President. FREDERIC G. MOORE, Secretary. 

Income. 

Net fire premiums, $378,169.14; marine, $38,386.33, . . $416,555 47 
Gross interest on mortgages, $5,163.43; collaterals, $5,570.87 

stocks and bonds, $10,763.60; bank deposits, $1,795.62, . 23,293 52 

Agents' balances previously charged off, ..... 40 00 

Gross profit on sale of bonds, ....... 35 00 

From all other sources, . . . . . . . . 54 27 

Total income, . ... 

Ledger assets, Dec. 31, 1919, ...... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, $122,931.85; marine, 

$4,407.67, 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery, . 
Taxes on real estate, ....... 

Dividends to policy holders, ...... 

Gross loss on sale of bonds, ....... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, $592,201 23 



$439,978 26 


456,734 92 


$896,713 18 


$127,339 52 


2,954 39 


75,369 87 


340 19 


4,446 71 


25,948 30 


1,492 29 


2,018 42 


831 30 


3,821 26 


3,186 00 


5,497 10 


1,991 25 


105 70 


3,691 56 


108 15 


44,422 62 


37 50 


909 82 


$304,511 95 



78 



MERRIMACK MUTUAL FIRE INSURANCE CO. 



Ledger Assets. 

Book value of real estate, 

Mortgage loans on real estate, ...... 105,402 00 

Loans secured by collateral (Schedule A), .... 103,75000 

Book value of stocks and bonds (Schedule B), . . . 7 15 

Cash in office, 4.04s 93 

Deposits in trust companies and banks on interest. . . til, 503 98 

Agents' balances, . . . . . . . . 57,829 

Total ledger assets, $592,201 23 

Xon-Ledger Assets. 

Interest accrued on mortgages, 81,350.97; bonds, $3,382.91; 

collateral loans, 81,209.90, 5,943 78 

Reinsurance recoverable on paid losses, ..... 1 .245 38 

Gross assets, $599,390 39 



Assets not admitted. 
Agents' balances over three months due, . . 8232 90 

Book value of stocks and bonds over market 

value, 20,396 02 



Admitted assets, 



20,628 92 
>78,761 47 



Liabilities. 
Unpaid losses, $26,739; less recognized reinsurance, $2,546.70, 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due ar accrued, 
Contingent commissions or other charges due or accrued, 
Interest paid in advance, 

Total, ..*".... 
Surplus to policy holders, 



124,192 30 

388,924 40 

5,423 31 

1,700 00 

9,000 00 

800 00 

? 5 42 

8430,805 43 
147,956 04 



Total liabilities, includ 


ing surplus, ..... 
Risks and Premiums. 


1578,761 47 


Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 


Risks. Cash Prem's. 

. $54,797,615 00 $679,586 25 
. 45,860,092 00 539,576 93 


Conting't Prem's. 
_* 


Total, . 
Expired and terminated, 


. S100,657,707 00 $1,219,163 18 
. 30,295,251 00 373,973 37 


_ 



In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



870,362,456 00 
12,593,694 00 



$845,189 81 

162,634 29 



8602,963 98 



857.768,762 00 I 182,555 52 



* The company states that it is unable to furnish these figures. 



MERRIMACK MUTUAL FIRE INSURANCE CO. 



79 



Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



Risks. 

$368,198 00 
4,016,125 00 

$4,384,323 00 

778,794 00 

$3,605,529 00 

1,854,148 00 

$1,751,381 00 



Cash Prem's. Conting't Prem's. 

$9,243 06 $9,243 06 
88,200 27 88,200 27 



$97,443 33 $97,443 33 
20,298 84 20,298 84 



$77,144 49 $77,144 49 
40,128 83 



$37,015 66 



Miscellaneous. 
Net premiums received from organization of company, . . $5,795,013 68 

Net losses paid from organization of company, . . . 2,387,441 94 

Cash dividends paid policy holders from organization of company, 1,687,947 16 
Dividends to policy holders during 1920: 20 per cent. 
Net premiums written during the year: motor vehicles, $38,386.33. 
Losses incurred during the year: motor vehicles, $4,882.17. 



Schedule A. Securities held as Collateral. 

Company's 

Market Value 

$9,900 00 

4,700 00 

6,600 00 

7,600 00 

450 00 

740 00 

416 00 

2,750 00 

2,600 00 

2,960 00 

3,500 00 

5,280 00 

1,960 00 

3,000 00 

6,200 00 

30,000 00 

4,500 00 

11,100 00 

9,400 00 

24,600 00 

5,580 00 

1,740 00 

700 00 

2,400 00 

4,500 00 

843 75 

1,950 00 

4,950 00 

179 60 

170 20 

1,687 00 

58 75 

950 00 

100 00 

612 00 

135 00 

8,280 00 

14,875 00 



100 shares Southern Pacific, 

100 " Utah Copper, . 

200 " American Smelting & Refining, 
50 " Smith & Dove Manufacturing, 

5 " Western Union, 
20 " Chicago, Rock Island & Pacific, 
40 " United Shoe Machinery, preferred, 

St. Louis & San Francisco 5s, 1960, . 

Erie 4s, 1953 

Portland R.R. 5s, 1945, .... 

125 shares Cumberland Countv Light & Power, 

United States 4fs, 1923, op. 1922, 

American Telephone & Telegraph 6s, 1922, 

National Oil 7s, 1925, .... 

100 shares Columbian G. & E., . 

500 " Island Oil & Transportation, 

150 " Anaconda Copper, 

370 " Midvale Steel, .... 

100 " Nash Motors, preferred, . 

Montana Power 5s, 1943, .... 

United States Steel 5s, 1963, 

New York Telephone 6s, 1949, . 

Boston & Maine 4*s, 1929, 

Boston & Maine 4|s, 1944, 

Boston & Maine 4s, 1926, 

Pere Marquette 5s, 1956, .... 
15 shares Gillette Safety Razor, 
33 " Pacific Mills, .... 

United States 1st Liberty Loan, 

United States 4th Liberty Loan, 
14 shares General Electric, 

5 " Libby, McNeil & Libby, . 
10 " American Telephone & Telegraph, 
12 " National Leather, 

6 " Swift & Company, 
5 Campania Swift International, . 

46 " Nicholson File, 
125 " L'nion Pacific, .... 



Loaned 
Thereon. 

$15,000 00 

4,500 00 

5,600 00 

5,000 00 

15,000 00 

10,000 00 
15,000 00 

10,000 00 



8,650 00 



15,000 00 



$187,967 30 $103,750 00 



80 



MERRIMACK MUTUAL FIRE INSURANCE CO. 



Schedule B. Stocks and Bonds owned by the Company. 



Bank Stocks. 




Book Value. 


Rate. 


Market Value. 


50 shares Andover National, 


$7,318 00 


160 


$8,000 00 


15 " First National, Boston, 


4,620 


00 


310 


4,050 00 


8 " Merchants Trust, Lawrence, 


1,200 


00 


17.", 


1.400 00 


50 " National Shawmut, Boston, 


12,910 


00 




13,300 00 


25 " Old Colony Trust, Boston, . 


6,625 


00 


260 


6,600 00 


25 " Webster & Atlas National, Boston, 


5,800 


00 


225 


25 00 


Miscellaneous Stocks. 










89 shares American Telephone & Telegraph, 


10,864 


69 


103 


9,167 00 


Government Bonds. 










United States 4s, 1947, op. 1932, 


3,000 


00 


100 


3.000 00 


United States 4£s, 1942, op. 1927, 


3,000 


00 


100 


3,000 00 


United States 4£s, 1928, 


3,000 


00 


100 


3,000 00 


United States 4 is, 1928, 


4,745 


13 


94 + 


4,745 13 


United States 4Js, 1938, op. 1933, 


3,000 


00 


100 


3,000 00 


United States 4|s, 1923, op. 1922, 


8,000 


00 


100 


8,000 00 


United States War Savings Stamps (issue of 1918) 


832 


00 


- 


894 00 


United States War Savings Stamps (issue of 1919), 


824 


00 


- 


870 00 


Municipal Bonds. 










Abington, Mass., 4s, 1934, 


2,898 


75 


94 


2,820 00 


Akron, 0., 5s, 1928, 




3,117 


30 


100 


3,000 00 


Andover, Mass., 4s, 1923, 




4,000 


00 


98 


3,920 00 


Andover, Mass., 4s, 1928, 




3,000 


00 


94 


2,820 00 


Houston, Tex., 4*8, 1930, . 




4,907 


00 


96 


4,800 00 


Lawrence, Mass., 4js, 1924, 




940 


00 


99 


990 00 


Los Angeles, Cal., 5s, 1953, 




5,167 


50 


100 


5,000 00 


Minneapolis, Minn., 4s, 1944, 




3,900 


00 


90 


3,600 00 


Omaha, Neb., 4|s, 1933, . 




2,961 


30 


97 


2,910 00 


Pawtucket, R. I., 4s, 1923, 




1,922 


50 


98 


1,960 00 


Portland, Ore., 4|s, 1943, . 




4,875 


00 


95 


4,750 00 


San Francisco, Cal., 4|s, 1927, 




2,000 


00 


98 


1,960 00 


Seattle, Wash., 4§s, 1924, 




975 


00 


98 


980 00 


Seattle, Wash., 4^s, 1921, 




2,000 


00 


100 


2,000 00 


Tacoma, Wash., 5s, 1921, 




2,957 


10 


100 


3,000 00 


Railroad Bonds. 










Atchison, Topeka & Santa Fe 1st 4s, 1958, 


9,525 


00 


79 


7,900 00 


Boston & Albany equip. 4s, 1933, 


3,075 


00 


84 


2,520 00 


Boston Elevated 4§s, 1937, . 


10,000 


00 


70 


7,000 00 


Chicago, Burlington & Quincy 4s, 1921, 


4,696 


88 


100 


5,000 00 


Chicago & Northwestern 1st 5s, 1929, 


4,000 


00 


97 


3,880 00 


Chicago Railways 1st 5s, 1927, . 


3,030 


00 


75 


2,250 00 


Framingham, Southboro & Marlb. St. 1st 7s, 1922 


985 


00 


100 


1,000 00 


Illinois Central (Western Lines) 1st 4s, 1951, 


1,940 00 


79 


1,580 00 


Interborough Rapid Transit 1st ref. 5s, 1966, 


1,980 


00 


62 


1,240 00 


New York, Chicago & St. Louis deb. 4s, 1931, 


9,400 


00 


75 


7,500 00 


New York, New Haven & Hartford deb. 4s, 1956 


9,562 


50 


56 


5,600 00 


Puget Sound Traction, Lt. & Pwr. 7s, 1921, 


980 


00 


100 


1,000 00 


Southern Pacific 1st ref. 4s, 1955, 


9,450 


00 


80 


8,000 00 


Worcester Consolidated Street 5s, 1927, 


2,100 


00 


60 


1,200 00 


Miscellaneous Bonds. 










American Tel. & Tel. coll. trust 4s, 1929, . 


11,087 


50 


81 


9,720 00 


American Telephone & Telegraph 6s, 1924, 


4,962 


50 


97 


4,850 00 


Consumers Power 1st ref. 5s, 1936, 


2,685 


00 


87 


2,610 00 


Detroit Edison 5s, 1940, .... 


1,880 


00 


87 


1.740 00 


Edison Electric Illuminating, Boston, 6s, 1922, 


2,000 


00 


99 


1,980 00 


Gorham Manufacturing 7s, 1923, 


3,060 


00 


100 


3,000 00 


Great Western Power 5s, 1946, . 


2,602 


50 


81 


2,430 00 


Louisville Gas & Electric 7s, 1923, 


5,900 


00 


99 


5.940 00 


Maiden Electric 6s, 1924, .... 


1,010 


00 


98 


980 00 


New Bedford Gas Light 7s, 1928, 


5,000 


00 


100 


5,000 00 


New England Tel. & Tel. 5s, 1932, . 


2,035 


00 


89 


1,780 00 


New England Power 5s, 1921, . 


4,625 


00 


88 


4,400 00 


Pacific Tel. & Tel. 1st 5s, 1937, 


2,940 


00 


90 


2.700 00 


Potomac Electric 6s, 1923, 


982 


50 


96 


960 00 


Southern California Edison 5s, 1939, . 


4,407 


50 


85 


4.250 00 


Southern Public Utilities 1st 5s, 1943, 


1,720 


00 


73 


1,460 00 


Springfield Gas Light 6s, 1922, . 


2,940 


00 


89 


2,670 00 


Worcester Gas Light 6s, 1924, . 


4,975 


00 


94 


4,700 00 




S256.897 


15 


$236,501 13 



METROPOLITAN MUTUAL FIRE INSURANCE CO. OF MASS. 



81 



METROPOLITAN MUTUAL FIRE INSURANCE COMPANY OF 
MASSACHUSETTS, BOSTON. 

Incorporated Jan. 26, 1916. Commenced business Aug. 1, 1916. 
SAMUEL HERMAN, President. SIMON BERLOE, Secretary 

Office, 30 Kilby Street. 

Income. 
Net fire premiums, ........ 

Gross interest on bonds, $74.33; bank deposits, $251.58, . 
Assessments, ......... 

From all other sources, ........ 



Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, . . 

Advertising, subscriptions, printing and stationery, 

Agents' balances charged off, .... 

Receiver's fee and expenses, . . ... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, . . . . . . 

Deposit with National Surety Company, 

Total ledger assets, ....... 

Non-Ledger Assets. 
Interest due and accrued on bonds, $25.35; other assets, $11. '42, 



$28,280 38 

325 91 

5,715 15 

10 50 



$34,331 94 
30,107 03 

$64,438 97 



$12,514 94 

1,417 59 

7,006 72 

577 51 

8,973 60 

1,500 00 

66 94 

35 00 

1,017 50 

636 41 

709 19 

1,083 94 

945 84 

1,589 33 

33 41 

971 92 

484 41 

$39,564 25 

$24,874 72 



$1,650 00 

1,256 92 

10,276 76 

10,691 04 

1,000 00 

$24,874 72 
36 77 



Gross assets, 



$24,911 49 



82 



MIDDLESEX MUTUAL FIRE INSURANCE CO. 



Assets not admitted. 
Agents' balances over three months due, . 
Checks included in cash in office, 

Admitted assets, ..... 



Liabilities. 
Unpaid losses, including SI, 000 resisted, . 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, 
Commissions or other charges due or accrued, 

Total, 

Excess of liabilities over assets,* 

Total liabilities, including surplus, 



$3,054 21 
179 88 



$3,234 09 
$21,677 40 



,941 77 

19,204 49 
1,077 73 

n 98 

1,235 53 

825,831 50 
4,154 10 

$21,677 40 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. 

$3,695,025 00 
3,546,050 00 

$7,241,075 00 
5,299,275 00 



Cash Prem's. 

$61,757 67 
58,639 16 

$120,396 83 
90,265 92 



Conting't Prem's. 

$61,757 67 
58,639 16 

$120,396 83 
94,714 52 

$30,130 91 $25,682 31 



$1,941,800 00 

Miscellaneous. 
Xet premiums and assessments received from organization of 

company, .... ..... $142,873 50 

Net losses paid from organization of company, . . . 34,62$ 81 

Assessments laid during the year on contingent premiums, . . 15,365 13 

Schedule A. Bonds owned by the Company. 

Government Bonds. Book Value. Rate. Market Value. 

United States 4£s, 1928 $600 00 100 $600 00 

United States 4|s, 1938, op. 1933, ... 550 00 100 550 00 

United States 4|s, 1923, op.~l922, ... 500 00 100 500 00 

$1,650 00 $1,650 00 



MIDDLESEX MUTUAL FIRE INSURANCE COMPANY, 

CONCORD. 

Incorporated March 3, 1826. Commenced business March 29, 1826. 
PRESCOTT KEYES, President. ELIOT R. HOWARD, Secretary. 

Income. 

Net fire premiums, $390,778.48; marine, §65,519.02, . . . $456,297 50 
Gross interest on mortgages, $816.87; stocks and bonds, 
$30,436.96; bank deposits, $695.08; all other, $20.39; gross 
rents, including $1,000 for company's own occupancy, 
$2,269, " . . 34,238 30 

* The officials of the company undertook upon April 20, 1920, to establish a guaranty capital of $25,000 
within one year, making an initial payment of $8,000, which was placed in the hands of the Commissioner 
of Insurance for the protection of policy holders. The guaranty capital was not. however, established 
and this fund still remains in the hands of the Commissioner of Insurance pending a determination by 
the Supreme Judicial Court as to its disposition. 



MIDDLESEX MUTUAL FIRE INSURANT E CO. 



83 



Agents' balances previously charged off, 
Gross profit on maturity of bonds, . 
From all other sources, . 

Total income, 
Ledger assets, Dec. 31, 1919, . 



$18 83 
131 25 
244 24 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, $149,134.24 

marine, $15,698.02, 

Loss adjustment expenses, ..... 

Agents' compensation, including brokerage, 

Agents' allowances, 

Field supervisory expenses, ..... 

Salaries and fees of directors, officers and clerks, 
Rents, including $1,000 for company's own occupancy, 
Furniture and fixtures, . . . ... 

Maps, including corrections, . . . . . 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ....... 

Other taxes, licenses and fees, .... 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing arid stationery, . 
Agents' balances charged off, ..... 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

Dividends to policy holders, . . . 

Gross loss on sale or maturity of bonds, . 
Borrowed money repaid, ..... 

Interest on borrowed money, 

Total disbursements, 



$490,930 12 
816,949 78 

$1,307,879 90 



$164,832 26 
2,374 13 

93,980 91 
1,561 76 
1,917 25 

20,477 71 
2,086 03 
2,150 79 
1,020 34 
5,156 23 
4,322 22 
3,620 09 
2,629 79 
3,520 16 
221 00 
1,360 56 
1,070 17 

88,104 75 
220 50 

99,000 00 
1,406 62 



Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, ....... 

Non-Ledger Assets. 
Interest due and accrued on mortgages, $112.01 ; bonds, $7,548.33, 
Market value of real estate over book value, .... 

Gross assets, ......... 

Assets not admitted. 
Agents' balances over three months due, . . So, 678 57 
Overdue and accrued interest on bonds in de- 
fault, 1,410 42 



$501,033 27 
$806,846 63 



$30,549 35 
11,325 00 

694,957 35 
34,249 81 
35,765 12 

$806,846 63 



7,660 34 
5,900 65 

$820,407 62 



84 



MIDDLESEX MUTUAL FIRE INSURANCE CO. 



Book value of stocks and bonds over market 
value, ....... 

Mortgage loan in excess of appraisal, 
Discount on Canadian bank deposits, 

Admitted assets, ....... 

Liabilities. 
Unpaid losses, §35,736.77; less recognized reinsurance, 815,001.55 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, 
Return premiums, .... 

Deposit on sale of real estate, 

Total, 

Surplus to policy holders, 



$97,199 75 

400 00 

420 00 8105,108 74 



Total liabilities, including surplus, 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 

Marine risks: 
In force Dec. 31, 1919, . 
Written during the year,- 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Xet amount in force, 



Risks and Premiums. 



Cash Prem's. 

$1,019,159 10 

788,692 88 



Risks. 

$70,921,368 00 
73,481,927 00 

8144,403,295 00 
52,092,327 00 

892,310,968 00 

30,621,307 00 

861,689,661 00 $838,310 65 



8715,298 88 



820,735 22 
470,367 86 
3,679 56 
4,237 14 
4,500 00 
1,076 43 
100 00 

8504.696 21 
210,602 67 

8715,298 88 



Conting't Prem's. 

8916,936 86 
369,239 68 



81,807,851 98 $1,286,176 54 
580,339 83 317,226 38 



$1,227,512 15 

389,201 50 



S968,950 16 



84,307,466 00 
9,059,986 00 

813,367,452 00 
5,944,351 00 

87,423,101 00 

4,482,848 00 



891,273 07 
185,685 90 



874,320 36 
146,534 26 



$276,958 97 $220,854 62 
119,029 25 90,532 45 



8157,929 72 
94,094 16 



$130,322 17 



S2,940,253 00 863,835 56 

Miscellaneous. 
Xet premiums received from organization of company, . . 87,908,201 51 

Xet losses paid from organization of company, . . . 2,932,109 43 

Cash dividends paid policv holders from organization of companv, 3,186,500 73 
Dividends to policy holders during 1920: 20, 30, 40, 50 and 60 

per cent. 
Xet premiums written during the year : motor vehicles, 865,519.02 ; 

wind storms and tornadoes, 8792.81; explosion, 877. S2. 
Losses incurred during the year: motor vehicles, S16,271.83; 

wind storms and tornadoes, 8269.13; explosion, SO. 99. 



MIDDLESEX MUTUAL FIRE INSURANCE CO. 



85 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
57 shares Boston & Albany, 
100 " Boston & Maine, 1st pref., class A, 

Bank Stocks. 

33 shares Concord National, 

Miscellaneous Stocks. 

83 shares American Telephone & Telegraph, 
100 " Fisk Rubber, 1st preferred, 

50 " Massachusetts Real Estate, 
100 " Northwestern Leather, preferred, 
100 " Norton Co., preferred, 
146 " Old Bay State Insurance Co., 
100 " Steel & Tube, preferred, 
Government Bonds. 
British government 5£s, 1921, . 
British government 5£s, 1922, . 
United States 4is, 1942, op. 1927, 
United States 4£s, 1942, op. 1927, 
United States 4Js, 1938, op. 1933, 
United States War Savings Stamps (issue of 1920) 
United States Thrift Stamps, 

State and Municipal Bonds. 
Alberta 5s, 1926, . ... 

British Columbia 4^s, 1925, 

Holyoke, Mass., 4s, 1927 

Massachusetts 3s, 1930, .... 

New Britain, Conn., 4s, 1939, . 

New Britain, Conn., 4s, 1936, . 

Norwich, Conn., 4s, 1931, 

Ontario 5s, 1926, ..... 

Pawtucket, R. I., 4s, 1929, 

Rio de Janeiro, Brazil, 6s, 1924, 

Stamford, Conn., 4s, 1938, 

Woonsocket, R. I., 4s, 1924, 

Railroad Bonds. 
Belt R.R. & Stk. Yds. of Indianapolis 4s, 1939, 
Boston & Albany 4s, 1933, 
Boston & Lowell 3£s, 1923, 
Boston & Maine 4§s, 1944, 
Boston & Maine 6s, 1930, . 
Boston & Northern Street 4s, 1954, . 
Chicago, Burlington & Quincy 31s, 1949, 
Chicago Jet. & Union Stk. Yds. 4s, 1940, 
Chicago & Northwestern (Boyer Valley) 3§s, 1923 
Cincinnati, Hamilton & Dayton 5s, 1942, 
Cleveland & Pittsburg 31s, 1948, 
Cleveland & Pittsburg 31s, 1950, 
Connecticut & Passumpsic Rivers 4s, 1943, 
Eastern Massachusetts Street 6s, 1925, 
Erie & Pittsburg 31s, 1940, 
Hamilton Street, Ont., 41s, 1928, 
Jamestown, Franklin & Clearfield 4s, 1959, 
Lake Shore & Michigan South. 1st 31s, 1997, 
Long Island (No. Shore Branch) 5s, 1932, . 
Mohawk & Malone 4s, 1991, 
New England 4s, 1945, .... 
New York Central & Hudson River 31s, 1997, 
New York, New Haven & Hartford 4s, 1922, 
New York, New Haven & Hartford 31s, 1947, 
New York, Ontario & Western 4s, 1992, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Norwich & Worcester 4s, 1927, . 
Old Colony 4s, 1925, 
Providence & Worcester 4s, 1947, 
St. Paul, Minn. & Manitoba 41s, 1933, 
Sioux City & Pacific 31s, 1936, . 
Terminal Assoc, of St. Louis 4§s, 1939, 
United Traction & Electric 5s, 1933, . 
West End Street 4s, 1932, 



Book Value. 

$5,757 75 

8,660 00 

3,300 00 

9,960 00 
10,100 00 

1,000 00 
10,000 00 
10,000 00 
46,720 00 

9,800 00 



5,910 

9,800 

90,100 

16,920 

12,000 

82 

20 



00 
00 
00 
00 
00 
40 
00 



12,610 00 

9,250 00 
10,950 00 
10,137 

5,068 

6,225 

4,059 

3,000 
10,450 

9,762 

5,092 

2,022 



50 
75 
00 
20 
00 
00 
50 
00 
50 



9,750 00 
10,050 00 

5,006 25 
11,775 00 
10,500 00 

4,625 00 

3,000 00 
14,800 00 
10,225 00 
10,100 00 
21,000 00 
10,575 00 
26,600 00 
250 00 
10,400 00 

6,141 00 

4,750 00 
10,912 50 

5,762 50 
11,062 50 
10,107 50 

4,587 50 

3,000 00 
15,262 50 
15,325 00 

4,706 25 
10,575 00 

5,262 50 

6,060 00 
12,003 75 

9,650 00 
13,630 00 
11,262 50 

5,225 00 



Rate. 

137 

50 

200 

103 

92 

39 

100 

102 

320 

89 

99 
97 

100 
85 

100 



93 
93 
95 
88 
91 
92 
94 
94 
93 
97 
93 
98 

82 
84 
85 
64 
75 
38 
78 
71 
93 
83 
76 
75 
69 
20 
75 
85 
79 
73 
90 
77 
72 
72 
76 
52 
66 
97 
85 
92 
76 
93 
79 
90 
40 
75 



Market Value. 

$7,809 00 

5,000 00 

6,600 00 



8,549 

9,200 

1,950 

10,000 

10,200 

46,720 

8,900 



00 
00 
00 
00 
00 
00 
00 



5,940 00 

9,700 00 

90,100 00 

17,000 00 

12,000 00 

84 60 

20 00 

12,090 00 
9,300 00 
9,500 00 
8,800 00 
4,550 
5,520 
3,760 
2,820 
9,300 
9,700 
4,650 
1,960 



00 
00 
00 
00 
00 
00 
00 
00 



8,200 00 
8,400 00 
4,250 00 
6,400 00 
7,875 00 
1,900 00 
3,120 00 

10,650 00 
9,300 00 
8,300 00 

15,200 00 
7,500 00 

17,250 00 
50 00 
7,500 00 
5,100 00 
3,950 00 
7,300 00 
4,500 00 
7,700 00 
7,200 00 
3,600 00 
3,040 00 
7,800 00 
9,900 00 
4,850 00 
8,500 00 
4,600 00 
4,560 00 

10,230 00 
7,900 00 

10,800 00 
4,000 00 
3,750 00 



86 



MUTUAL FIRE ASSURANCE CO. 



Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 4s, 1929, 
American Tel. & Tel. coll. trust 5s, 1946, 
Consumers Power 5s, 1936, 
Southern Power 5s, 1930, . 
Western Tel. & Tel. coll. trust 5s, 1932, 



Book Value. 


Bate. 


Market Value. 


$9,000 00 


si 


LOO 00 


992 50 


86 


860 00 


8,490 00 


87 


8,700 00 


4,375 00 


90 


4,500 00 


9,400 00 


87 


8,700 00 


$694,957 35 


$597,757 60 



MUTUAL FIRE ASSURANCE COMPANY, SPRINGFIELD. 

Incorporated Feb. 23, 1827. Commenced business July 23, 1827. 
GEO. B. HOLBROOK, President. HERBERT E. HUIE, Secretary. 

Office, 500 Main Street. 

Income. 

Net fire premiums, 823,883 71 

Gross interest on mortgages, $3,122.24; stocks and bonds, 

$11,944.72; bank deposits, $328.22, 15,395 18 

Gross profit on sale or maturity of stocks and bonds, . . 365 13 

Dividend, Hadley Falls National Bank in liquidation, . . 500 00 

Total income, $40,144 02 

Ledger assets, Dec. 31, 1919, 309,548 81 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, . . . . . . . . ... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ..... 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, . 
Dividends to policy holders, ...... 

All other disbursements, ...... 

Total disbursements, ...... 



Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, 



. $349,692 83 


$2,343 09 

88 28 


5,063 00 


1,094 41 
17 64 


50 00 


36 00 


554 86 


42 51 


115 18 


180 15 


19,852 62 
15 65 



829,453 39 
$320,239 44 



$56,000 00 

253,942 16 

103 67 

10,125 71 

67 90 



Total ledger assets, 



8320.239 44 



MUTUAL FIRE ASSURANCE CO. 



87 



Non-Ledger Assets. 
Interest accrued on mortgages, $934.79; bonds, $2,377.77, 

Gross assets, ........ 

Assets not admitted. 
Book value of stocks and bonds over market value, . 

Admitted assets, ....... 

Liabilities. 

Unearned premiums on outstanding risks, 
Dividends due policy holders, ..... 

Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, ...... 

Total liabilities, including surplus, .... 



$3,312 56 
. $323,552 00 

4,349 41 
. $319,202 59 



$58,838 17 

386 ho 

46 00 

45 17 

$59,315 89 
259,886 70 

$319,202 59 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. 

. $6,538,200 00 
1,593,550 00 



58,131,750 00 
1,410,800 00 



Casn Frem's. 

$112,830 08 
25,684 43 

$138,514 51 
24,623 32 



Conting't Prem's. 

$112,830 08 
25,684 43 

$138,514 51 
24,623 32 



1,720,950 00 $113,891 19 $113,891 19 



Miscellaneous. 
Dividends to policy holders during 1920: 90 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
100 shares Boston & Albany, 

69 " Chicago, Burlington & Quincy, 

20 " Holyoke & Westfield, 
336 " New York Central & Hudson River, 
Bank Stocks. 

25 shares Chapin National, Springfield, 

61 " Chicopee National, Springfield, 

50 " Hadley Falls Trust, Holyoke, 

25 " Springfield National, 

Government Bonds. 

United States 3£s, 1947, op. 1932, 

United States 4 is, 1942, op 

United States 4 is, 1928, . 

United States 4is, 1938, op 

United States 4is, 1938, op 

Railroad Bonds. 
Boston & Maine 4s, 1926, 
Boston Elevated 4£s, 1937, 
Chesapeake & Ohio 5s, 1939, 
Chicago, Burlington & Quincy 3£s, 1949, 
Connecticut River 3£s, 1923, 
Illinois Central purchased lines 35S, 1952, 
Illinois Central 1st coll. trust 4s, 1952, 
Lake Shore & Michigan Southern 4s, 1931, 



1927, 

1933, 
1933, 



Book Value. 


Rate. 


Market Value. 


$14,073 25 


137 


$13,700 00 


8,364 85 


210 


14,490 00 


3,740 00 


250 


5,000 00 


iver, . 37,750 92 


81 


27,216 00 


2,875 00 


150 


3,750 00 


6,100 00 


225 


13,725 00 


7,500 00 


175 


8,750 00 


3,000 00 


274 


6,850 00 


10,000 00 


100 


10,000 00 


5,000 00 


100 


5,000 00 


5,000 00 


100 


5,000 00 


10,000 00 


100 


10,000 00 


12,861 75 


85 + 


12,861 75 


4,000 00 


78 


3,120 00 


2,030 00 


70 


1,400 00 


4,040 00 


96 


3,840 00 


3,805 00 


78 


3,120 00 


2,030 00 


89 


1,780 00 


2,801 25 


69 


2,070 00 


4,450 00 


77 


3,850 00 


4,512 50 


87 


4,350 00 



88 



MUTUAL PROTECTION FIRE INSURANCE CO. 



Long Island unified 4s, 1949, 

Maine Central 1st and ref. 4^s, 1935, 

Missouri Pacific equip. 5s, 1921, 

New York Cent. & Hud. R. (L. Sh. coll.) 3|s, 1998 

New York Central & Hudson River 6s, 1935, 

New York, New Haven & Hart. deb. 4s, 1955, 

Norfolk & Southern 5s, 1954, . 

Pennsylvania 7s, 1930, 

Philadelphia, Wilmington & Bait. 4s, 1932, 

Reading (Jersey Cent, coll.) 4s, 1951, 

Southern equip. 4§s, 1921, 

Southern Pacific conv. 5s, 1934, 

Springfield Street 4s, 1923, 

Miscellaneous Bonds. 
Adams Express 4s, 1948, . 
American Tel. & Tel. 4s, 1929, . 
Montana Power 5s, 1943, . 
New England Power 5s, 1951, . 
Swift & Co. 5s, 1944, 



Book Value. 

$1,900 00 
5,025 00 
5,812 80 
8,000 00 

10,000 00 
5,012 50 
1,960 00 
5,012 50 
4,040 00 
2,865 00 
3,000 00 
5,081 25 
3,064 84 



3,856 
7,452 
9,200 
13,875 
4,850 



25 
50 
00 
00 
00 



Rate. 
72 
86 

100 
67 
95 
56 
67 

105 
88 
95 
99 

107 
92 

66 
81 

88 
88 
90 



Market Value. 

$1,440 00 

4,300 00 

0,000 00 

60 00 

10 00 

10 00 

1,340 00 

5,250 00 

20 00 

50 00 

2,970 00 

50 00 

2,760 00 



3,300 
6,480 

13,200 

4,500 



00 
00 
00 
00 
00 



$253,942 16 



$249,502 75 



MUTUAL PROTECTION FIRE INSURANCE COMPANY, 

CHARLESTOWN. 

Incorporated April 10, 1861. Commenced business July 15, 1864. 
WILLIAM P. HART, President. FRANK V. NOYES, Secretary. 

Office, Thompson Square. 

Income. 

Net fire premiums, $33,159.66; marine, $578.85, . $33,738 51 
Gross interest on stocks and bonds, $4,728.35; bank deposits, 

$98.21, 4,826 56 

Agents' balances previously charged off, .... 126 02 

Total income, ....... 

Ledger assets, Dec. 31, 1919, ...... 

Total, . 

Disbursements. 

Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, . 

Advertising, subscriptions, printing and stationery, . 
Dividends to policy holders, 

Total disbursements, ...... 

Balance, $112,917 50 



$38,691 


09 


108,517 26 


$147,208 35 


$14,846 48 


235 67 


5,934 61 


5,135 


02 


508 


18 


96 


23 


51 


58 


776 


87 


465 


40 


313 


18 


129 


97 


126 


25 


768 


74 


4,902 67 


834,290 85 



MUTUAL PROTECTION FIRE INSURANCE CO. 



89 



Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 

Cash in office, ........ 

Deposits in trust companies and banks on interest, . 
Agents' balances, ........ 

Total ledger assets, ...... 

Non-Ledger Assets. 

Interest accrued on bonds, $575.68; other assets, $39.47, . 
Supplies, printed matter and stationery, .... 
Furniture and fixtures, ....... 



Gross assets, ...... 

Assets not admitted. 

Supplies, printed matter and stationery, . 
Furniture and fixtures, ..... 
Agents' balances over three months due, . 
Book value of stocks and bonds over market 
value, ....... 



Admitted assets, .... 

Liabilities. 

Unpaid losses, including $750 resisted, 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, 
Commissions or other charges due or accrued, 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



$97,851 09 
1,180 79 
7,473 46 
6,412 16 

$112,917 50 



615 15 

500 00 

1,000 00 

$115,032 65 



$500 00 
1,000 00 
1,377 71 

14,416 79 17,294 50 



$97,738 15 



$1,486 56 

33,735 67 

317 44 

145 56 

250 00 

1,451 61 

$37,386 84 

60,351 31 

$97,738 15 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$4,451,942 00 
2,295,435 00 



In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 

Marine risks: 
Written during the year, 
In force at end of year, . 



$6,747,377 00 
2,018,558 00 

$4,728,819 00 

225,619 00 

$4,503,200 00 



$18,885 00 
18,885 00 



Cash Prem's. 

$64,133 38 
36,321 89 



$100,455 27 
31,638 91 

$68,816 36 

2,539 09 

$66,277 27 



$578 85 
578 85 



Conting't Prem's. 

$64,133 38 
36,321 89 

$100,455 27 
31,638 91 

$68,816 36 



$578 85 
578 85 



90 



NEWBURYPORT MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 
Net premiums received since 1878, ...... 

Net losses paid since 1878, ...... 

Cash dividends paid policy holders since 1878, . 

Dividends to policy holders during 1920: 20 per cent. 

Net premiums written during the year: motor vehicles, $578.85. 



5,359 To 
5,365 73 

227,629 34 



Schedule A. Stocks and Bonds 

Railroad Stocks. 
5 shares Atch., Top. & Santa F6, preferred, 
25 " New York Central & Hud. River, 
17 " New York, New Haven & Hartford, 
232 " Pennsylvania, .... 

Miscellaneous Stocks. 
69 shares American Telephone & Telegraph, 
43 " Charlestown Gas & Electric, 
Government Bonds. 
United States 41s, 1938, op. 1933, 
United States 4|s, 1923, op. 1922, 

State and Municipal Bonds. 
Massachusetts 3|s, 1931, . 
Massachusetts 3s, 1941, . 
New York, N. Y., 4s, 1956, 
Water bury, Conn., 3js, 1926, 

Railroad Bonds. 
New York, New Haven & Hart. conv. 6s, 1948, 
New York, New Haven & Hartford 3§s, 1954, 

Miscellaneous Bonds. 
American Telephone & Telegraph 4s, 1929, 



OWNED BY THE COMPANY. 



Book Value. 
$255 00 
3,173 13 
3,219 00 

15,089 38 


Rate. 
82 
81 
35 
91 


Market Value. 

8410 00 

2,025 00 

595 00 

10,550 00 


9,335 
3,328 


00 
00 


103 
193 


7,107 00 
4,149 50 


16,875 
15,000 


80 
00 


93 + 

100 


16,875 80 
15,000 00 


10,168 

0,326 

3,825 

962 


00 
25 
00 
50 


91 
79 
91 
94 


9,100 00 

5,530 00 

3,640 00 

940 00 


400 
2,915 


00 
83 


84 
50 


336 00 
1,500 00 


6,978 20 


81 


5,670 00 


$97,851 


09 


S83.434 30 



NEWBURYPORT MUTUAL FIRE INSURANCE COMPANY, 

NEWBURYPORT. 

Incorporated Feb. 10, 1829. Commenced business May 1, 1829. 
WILLIAM R. JOHNSON, President. GREENLEAF A. JOHNSON, Secretary. 



Income. 
Net fire premiums, ........ 

Gross interest on mortgages, $33.75; stocks and bonds, $2,401.50; 

bank deposits, $197.94, 

Refund of federal tax, ........ 

From all other sources, ........ 

Total income, ........ 

Ledger assets, Dec. 31, 1919, ....... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Federal taxes, ...... 

Other taxes, licenses and fees, 



$4,185 48 

2,633 19 

44 57 

245 71 

S7,108 95 
51,672 97 



158,781 


92 


$1,484 86 

9 76 

863 75 

308 04 

118 86 

1 77 



NEWBURYPORT MUTUAL FIRE INSURANCE CO. 91 

Postage, telegraph, telephone, exchange and express, . $3 90 

Advertising, subscriptions, printing and stationery, ... 40 03 

Dividends to policy holders, . . . . . . . 4,166 50 

All other disbursements, ....... 2 69 



Total disbursements, $7,000 16 



Balance, $51,781 76 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), .... $46,30600 

Cash in office, ......... 6 08 

Deposits in trust companies and banks not on interest, . . 80 90 

Deposits in trust companies and banks on interest, . . . • 5,388 78 



Total ledger assets, $51,781 76 

Non-Ledger Assets. 
Interest due and accrued on bonds, . . . . . 616 92 



Gross assets, $52,398 68 

Assets not admitted. 

Overdue and accrued interest on bonds in de- 
fault, ....... 

Book value of stocks and bonds over market 
value, ....... 

Admitted assets, . 

Liabilities. 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 



$96 75 




5,118 50 


5,215 25 


. 


$47,183 43 


. 


$6,485 13 

76 50 

90 00 

6 18 



Total, $6,657 81 

Surplus to policy holders, ....... 40,525 62 



Total liabilities, including surplus, ..... $47,183 43 

Risks and Premiums. 

Fire risks: Risks. CashPrem's. Conting't Prem's. 

In force Dec. 31, 1919, . . $801,025 00 $12,270 13 $49,080 52 

Written during the year, . 286,300 00 4,404 88 17,619 52 



.Total, .... $1,087,325 00 $16,675 01 $66,700 04 

Expired and terminated, . 296,400 00 4,554 50 18,218 00 



In force at end of year, . . $790,925 00 $12,120 51 $48,482 04 

Miscellaneous. 
Dividends to policy holders during 1920: 100 per cent.. 



92 



NORFOLK MUTUAL FIRE INSURANCE CO. 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
10 shares Atchison, Topeka & Santa Fe, com., 

1 share Atchison, Topeka & Santa Fe, pref., 
24 shares Boston & Maine, 

5 " Chicago Jet. & Union Stk. Yds., pref. 
14 " Chicago, Milw. & St. Paul, pref., 

4 " Chicago, Milw. & St. Paul, com., 

13 " New York Central, . 

Bank Stocks. 
100 shares Merchants National, Newburyport, 
31 " Ocean National, Newburyport, . 
Miscellaneous Stocks. 

10 shares American Telephone & Telegraph, 
4 " Michigan State Telephone, pref., 

21 " River bank Court Securities, 

11 " United States Rubber, 1st pref., 

14 " Western Union Telegraph, 
10 " Westinghouse Elec. & Manuf., pref., 
14 " Westinghouse Elec. & Manuf., com., 

Government Bonds. 
United States 4js, 1942, op. 1927, 
United States 4}s, 1928, .... 
United States 4is, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

Municipal Bonds. 
Newport News, Va., 4s, 1941, . 
Railroad Bonds. 
Bangor & Aroostook cons, and ref. 4s, 1951, 
Bangor & Aroostook (St. John Ext.) 5s, 1939, 
Chicago, Burl. & Quincy gen. 4s, 1958, 
Chicago Jet. & Union Stk. Yds. coll. tr. 5s, 1940, 
Chicago, Milw. & St. Paul gen. and ref. 5s, 2014, 
Eastern Massachusetts Street 4£s, 1948, 
Eastern Massachusetts Street 6s, 1925, 
New York Cent. & Hud. Riv. conv. deb. 6s, 1935, 

Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 4s, 1929, 
American Tel. & Tel. conv. 6s, 1925, . 
Cumberland Tel. & Tel. 1st gen. 5s, 1937, 
Michigan State Telephone 5s, 1924, . 
Minneapolis General Electric 1st 5s, 1934, 
Montana Power 1st ref. 5s, 1943, 
Western Telephone & Telegraph 5s, 1932, 



Book Value. 


Rate. 


Market Value. 


$800 00 


91 


$910 00 


100 00 


82 


82 00 


1,200 00 


35 


840 00 


625 00 


82 


410 00 


1,850 00 


70 


980 00 


400 00 


48 


192 00 


1,300 00 


81 


1,053 00 


2,000 00 


195 


3.900 00 


1,550 00 


135 


2,092 50 


1,000 00 


103 


1,030 00 


300 00 


66 


264 00 


2,000 00 


32 


672 00 


600 00 


110 


1,210 00 


1,252 00 


90 


1,260 00 


500 00 


131 


655 00 


700 00 


102 


714 00 


1,000 00 


100 


1,000 00 


200 00 


100 


200 00 


500 00 


100 


5CX) 00 


300 00 


100 


300 00 


2,000 00 


87 


1,740 00 


1,730 00 


52 


1,040 00 


3,000 00 


73 


2,190 00 


2,000 00 


83 


1,660 00 


l, 2,970 00 


88 


2,640 00 


200 00 


79 


158 00 


1,860 00 


28 


560 00 


100 00 


20 


20 00 


500 00 


95 


475 00 


2,875 00 


81 


2.430 00 


1,984 00 


100 


2.100 00 


2,995 00 


88 


2,640 00 


1,000 00 


90 


900 00 


1,000 00 


88 


880 00 


915 00 


88 


880 00 


3,000 00 


87 


2,610 00 


§46,306 00 


$41,187 50 



NORFOLK MUTUAL FIRE INSURANCE COMPANY, DEDHAM. 



Incorporated Feb. 12, 1825. Commenced business July 1, 1825. 
JAMES Y. NOYES, President. THEODORE T. MARSH, Secretary. 

Income. 
Net fire premiums, ........ 

Gross interest on mortgages, $847.50; stocks and bonds, 

$30,887.09; bank deposits, $506.82; gross rents, including 

$537.50 for company's own occupancy, $1,750, . 
From all other sources, ........ 



$122,438 07 



33,991 41 
430 19 



Total income, 
Ledger assets, Dec. 31, 1919, . 



§156,859 67 
765,511 47 



Total, 



8922,371 14 



NORFOLK MUTUAL FIRE INSURANCE CO. 



93 



Disbursements. 

Net amount paid policy holders for fire losses, 
Loss adjustment expenses, 
Agents' compensation, including brokerage, 
Agents' allowances, .... 

Field supervisory expenses, 
Salaries and fees of directors, officers and clerks, 
Rents, including $537.50 for company's own occupancy, 
Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ....... 

Other taxes, licenses and fees, .... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ....... 

Advertising, subscriptions, printing and stationery, . 

Repairs and expenses on real estate, 

Taxes on real estate, ...... 

Dividends to policy holders, ..... 

Gross loss on maturity of bonds, .... 

Auditing, ........ 

All other disbursements, ..... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 

Non-Ledger Assets. 

Interest due and accrued on mortgages, $349.24; bonds, $8,763.75; 
other assets, $20.81; rents accrued on company's property, 
$245.83, 

Gross assets, ......... 

Assets not admitted. 

Agents' balances over three months due, . . $215 76 

Book value of stocks and bonds over market 
value, 89,175 18 





$32,849 06 




634 69 




19,760 81 


. 


57 98 


. 


294 04 


. 


13,713 64 




675 12 




318 02 




248 83 


lations 


2,241 38 


. 


499 71 


. 


1,206 07 




449 15 




4 00 


. 


1,916 79 


. 


1,608 72 




445 88 




45,750 34 


. 


462 50 




230 00 


• 


5 35 


• 


$123,372 08 


• 


$798,999 06 


$15,000 00 




14,800 00 




745,708 98 




4,181 82 




1,916 14 




10,590 50 




6,801 62 


, m 


$798,999 06 



Admitted assets, .... 

Liabilities. 
Unpaid losses, ..... 
Unearned premiums on outstanding risks, 
Dividends due policy holders, 



9,379 63 



$808,378 69 



89,390 94 
$718,987 75 



$2,363 75 

231,532 58 

2,022 23 



94 



NORFOLK MUTUAL FIRE INSURANCE CO. 



Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, . 

Total liabilities, including surplus, 



$500 00 

1,000 00 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

. $29,018,048 00 
9,914,852 00 



Cash Prem'8. 

$436,659 43 
140,417 98 



1237,418 56 

481,569 19 

$718,987 75 



Conting't Prem's. 

6,650 43 

140,417 98 



$38,932,900 00 
7,529,807 00 



$577,077 41 $577,077 41 
108,486 51 108,486 51 



In force at end of year, . . $31,403,093 00 
Deduct reinsurance in recog- 
nized companies, . . 2,079,922 00 



$468,590 90 $468,590 90 
28,228 26 



Net amount in force, 



$29,323,171 00 8440,362 64 



Miscellaneous. 
Net premiums received from organization of company, . . 84,381,382 53 

Net losses paid from organization of company, . . . 1,509,960 34 

Cash dividends paid policy holders from organization of company, 2,161,893 93 
Dividends to policy holders during 1920: 20, 30, 40, 50 and 60 per 
cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
100 shares Atch., Topeka & Santa Fe, com., 
213 " Atch., Topeka & Santa Fe, pref., 
125 " Boston & Albany, 

75 " Boston & Lowell, 

20 " Boston & Providence, 
100 " Old Colony, . 

60 " Union Pacific, preferred, 
Miscellaneous Stocks. 

80 shares Dedham Water, - . 
Government Bonds. 
United States Federal Land Bank 5s, 193S, 
United States 4fs, 1923, op. 1922, 
United States 4Js, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4}s, 1942, op. 1927, 
United States 4Js, 1942, op. 1927, 
United States 3£s, 1947, op. 1932, 

Municipal Bonds. 
Boston, Mass., 4s, 1921, . 
Boston, Mass., 4s, 1923, . 
Bridgeport, Conn., 4js, 1937, 
Chelsea, Mass., 4s, 1936, . 
Chicago, 111., 4s, 1922, 
Cincinnati, O., 6s, 1940, . 
Cleveland, O., 6s, 1928, . 
Fall River, Mass., 4s, 1929, 
Lvnn, Mass., 4s, 1926, 
Lynn, Mass., 4s, 1929, 
Minneapolis, Minn., 4s, 1946, 
Newton, Mass., 4s, 1924, . 
Newton, Mass., 4s, 1928, . 
New York, N. Y., 4§s, 1957, 
North Andover, Mass., 4s, 1923, 



Book Value. 


Rate. 


Market Value. 


$9,418 


75 


91 


$9,100 00 


4,678 


20 


82 


17.466 00 


22,494 


24 


137 


17.125 00 


10,818 


25 


81 


6,075 00 


4,070 


50 


149 


2,980 00 


17,071 


74 


93 


9,300 00 


2,670 


00 


70 


4,200 00 


8,000 00 


100 


8,000 00 


10,100 00 


99 


9,900 00 


10,000 


00 


100 


10,000 00 


10,000 


00 


100 


10,000 00 


10,000 


00 


100 


10,000 00 


8,000 


00 


100 


8,000 00 


7,532 


80 


94 4- 


7,532 80 


11,000 


00 


100 


11,000 00 


13,478 


75 


100 


13,000 00 


2,235 


00 


98 


1,960 00 


9,582 


00 


94 


9,400 00 


11,937 


50 


92 


9,200 00 


5,056 


25 


99 


4,950 00 


10,500 


00 


114 


11,400 00 


10,190 


00 


107 


10,700 00 


2,317 


50 


95 


1,900 00 


11,482 


50 


96 


10,560 00 


9,113 


75 


95 


7,600 00 


10,174 


00 


89 


8,900 00 


8,997 


50 


98 


7,840 00 


4,565 


00 


95 


3,800 00 


10,262 


50 


100 


10.000 00 


5,631 


25 


98 


380 00 



PAPER MILL MUTUAL INSURANCE CO. 



95 



Omaha, Neb., 5s, 1940, . 
Portland, Me., 4s, 1928, . 
Portland, Ore., 4js, 1943, . 
San Francisco, Cal., 5s, 1936, 
Stamford, Conn., 4£s, 1936, 
Taunton, Mass., 4s, 1928, 

Railroad Bonds. 
Atch., Topeka & Santa Fe gen. 4s, 1995, 
Atch., Topeka & Santa Fe adjust. 4s, 1995, 
Boston & Albany 3§s, 1952, 
Boston & Albany 4s, 1933, 
Boston Elevated 5s, 1942, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4s, 1942, 
Boston & Maine 4|s, 1944, 
Boston & Maine 6s, 1930, 
Boston & Providence 6s, 1923, 
Boston, Revere Beach & Lynn 4§s, 1927, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago, Milwaukee & St. Paul gen. 4s, 1989, 
Connecticut & Passumpsic Rivers 4s, 1943, 
Delaware & Hudson 1st and ref. 4s, 1943, . 

Fitchburg 4s, 1927, 

Fremont, Elkhorn & Missouri Valley 6s, 1933, 
Illinois Central (St. Louis Div.) 3is, 1951, . 

Maine Central 5s, 1923 

Minn., St. P. & S. Ste. M. (Ch. Term.) 1st 4s, 1941 

New London Northern 1st 4s, 1940, - 

New York Cent. & Hud. R. (L. Sh. coll.) 3|s, 1998 

New York, New Haven & Hartford 4s, 1947, 

No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Norwich & Worcester 4s, 1927, 

Old Colony 4s, 1925, 

Old Colony 4s, 1938, 

Old Colony 3|s, 1932, 

Oregon Short Line 6s, 1922, 

Portland & Rumford Falls 4s, 1926, . 

Rock Island-Frisco Terminal 1st 5s, 1927, 

Union Pacific 4s, 1947, . 

Miscellaneous Bonds. 
American Tel. & Tel. coll. trust 4s, 1929, 
American Tel. & Tel. coll. trust 6s, 1925, 
New England Tel. & Tel. coll. trust 5s, 1932, 
Western Electric 7s, 1925, 



Book Value. 

$10,000 00 

9,612 50 

13,650 00 

10,200 00 

9,941 00 

6,855 00 

17,550 00 

5,160 00 

20,562 50 

4,950 00 

9,850 00 

10,200 00 

14,881 25 

23,725 00 

4,500 00 

10,125 00 

10,800 00 

10,125 00 

9,975 00 

5,037 50 

7,880 00 

22,447 50 

5,441 25 

4,925 00 

5,412 50 

9,600 00 

9,900 00 

8,625 00 

17,450 00 

22,000 00 

21,450 00 

19,118 75 

17,386 25 

5,150 00 

10,100 00 

10,000 00 

15,750 00 

4,050 00 

13,352 50 
6,580 00 

10,112 50 
9,900 00 

$745,708 98 



Rate. 

102 
96 
95 

101 
99 
95 

81 
76 
68 
84 
76 
77 
63 
64 
75 

100 
90 
85 
74 
69 
84 
83 

106 
72 
96 
83 
74 
67 
58 
97 
85 
92 
80 
79 

100 
88 
84 
85 

81 

100 

89 

99 



Market Value. 

$10,200 00 

9,600 00 

13,300 00 

10,100 00 

9,900 00 

5,700 00 

18,225 00 

9,120 00 

13,600 00 

4,200 00 

7,600 00 

7,700 00 

8,820 00 

12,800 00 

3,375 00 

10,000 00 

9,000 00 

8,500 00 

7,400 00 

3,450 00 

6,720 

16,600 

5,300 

3,600 

4,800 

8,300 

7,400 00 

6,700 00 

11,020 00 

21,340 00 

17,000 00 

17,480 00 

13,600 00 

3,950 00 

10,000 00 

8,800 00 

12,600 00 

3,825 00 

11,340 00 
7,000 00 
8,900 00 
9,900 00 

$656,533 80 



00 
00 
00 
00 
00 
00 



PAPER MILL MUTUAL INSURANCE COMPANY, BOSTON. 

Incorporated November, 1886. Commenced business April 1, 1887. 
D. W. LANE, President. GEORGE H. GIBSON, Secretary. 

Office, 31 Milk Street. 

Income. 

Net fire premiums, $550,908 65 

Gross interest on bonds, $22,661.97; bank deposits, $2,383.84, 25,045 81 

Gross profit on maturity of bonds, . . . . . . 18 75 

Canadian exchange, ........ 243 75 



Total income, 
Ledger assets, Dec. 31, 1919, . 



. $576,216 96 
539,564 77 



Total, 



$1,115,781 73 



96 



PAPER MILL MUTUAL INSURANCE CO. 



Disbursements. 

Net amount paid policy holders for fire losses, . 
Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Inspection department, for inspections, maps, plans 
ment of losses, ...... 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and expr 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest. 
Premiums in course of collection, 



Xox-Ledger Assets. 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, . 



Assets not admitted 

Premiums over three months due, . 
Book value of bonds over market value, . 
Discount on Canadian bank deposits, 

Admitted assets, ....'. 

Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 





$21,037 




20,357 25 




1,044 08 




7 90 


and adjust- 






8,374 66 




1.245 37 




2,245 00 




275 46 




162 62 




1,169 25 




388,202 04 




282 81 




27 50 




73 83 




8445,485 11 


. $670,296 62 


. §574,404 w 


1,228 54 


66,502 07 




28,161 13 


. $670,296 62 



8,876 58 





• 


$679,173 20 


S151 72 

35.072 75 

298 31 


35,522 78 


• 


• 


$643,650 42 




• 


S3,600 00 

322,789 91 

69 72 

2,500 00 



$328,959 63 

314.690 79 

8643,650 42 



PAPER MILL MUTUAL INSURANCE CO. 



97 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 

Risks. 

. $69,098,663 00 
. 78,831,459 00 



. $147,930,122 00 
. 62,224,457 00 



Cash Prem's. Conting't Prem's. 

$500,664 47 $2,503,322 35 
575,411 12 2,877,055 60 



,076,075 59 $5,380,377 95 
456,350 26' 2,281,751 30 



$85,705,665 00 $619,725 33 $3,098,626 65 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends paid policy holders from organization of company, 

Dividends to policy holders during 1920: 91, 83, 72 and 62 per 

cent. 
Losses incurred during the year: wind storms and tornadoes, 

$789.60; sprinkler leakage, $2,160.01. 

Schedule A. Bonds owned by the Company. 

Government Bonds. 
Canada 5s, 1937, 
Canada 5|s, 1929, . 
Canada 5£s, 1923, . 

United King, of Gt. Britain & Ireland 5|s, 1929 
United States 4is, 1942, op. 1927, 
United States 4|s, 1942, op. 1927, 
United States 4is, 1928, . 
United States 4£s, 1928, . ■ 
United States 4Js, 1938, op. 1933, 
United States 4Js, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States 4|s, 1923, op. 1922, 

State and Municipal Bonds 
Boston, Mass., 3|s, 1932, . 
Boston, Mass., 3§s, 1933, . 
Minneapolis, Minn., 4fs, 1924, . 
New York, N. Y., 4£s, 1957, 
New York, N. Y., 4is, 1960-62, 
New York 4s, 1961, . 
Toronto, Ont., 4§s, 1949, . 

Railroad Bonds. 
Baltimore & Ohio 4^s, 1933, 
Baltimore & Ohio 6s, 1929, 
Boston Elevated 4s, 1935, 
Boston & Maine 4|s, 1944, 
Boston & Maine 4s, 1926, 
Chicago Jet. & Union Stk. Yds. 4s, 1940, 
Chicago Jet. & Union Stk. Yds. 5s, 1940, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago, Burl. & Quincy gen. 4s, 1958, 
Chicago & Northwestern 5s, 1921, 
Chicago & Northwestern 7s, 1930, 
Chicago, Milwaukee & St. Paul 5s, 2014, 
Cincinnati, Sandusky & Cleveland 5s, 1928 
Cleveland, Cin., Chic. & St. Louis 4s, 1939, 
Delaware & Hudson 4s, 1943, 
Galveston-Houston Electric 5s, 1954, 
Illinois Central 5§s, 1934, 
Interborough Rapid Transit 7s, 1921, 
Maine Central 5s, 1923, . 
Minn., St. Paul & S. Ste. M. 4s, 1938, 
Minn., St. Paul & S. Ste. M. 1st cons. 4s, 1938, 
New York Central equip, trust 7s, 1927, 



$4,751,833 07 

390,403 53 

3,526,766 33 



Book Value. 


Rate. 


Market Value. 


$9,573 


37 


96 


$9,600 00 


9,700 


00 


97 


9,700 00 


4,762 


50 


100 


5,000 00 


9,625 


00 


93 


9,300 00 


10,000 


00 


100 


10,000 00 


8,526 


50 


85 + 


8,526 50 


20,000 


00 


100 


20,000 00 


8,895 


50 


88 + 


8,895 50 


30,000 


00 


100 


30,000 00 


32,121 


07 


91 + 


32,121 07 


10,000 


00 


100 


10,000 00 


14,509 


06 


96 + 


14,509 06 


5,000 


00 


89 


4,450 00 


10,000 


00 


88 


8,800 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


100 


5,000 00 


25,981 


88 


95 


24,700 00 


5,000 


00 


98 


4,900 00 


4,625 


00 


75 


3,750 00 


4,793 


75 


76 


3,800 00 


4,825 


00 


94 


4,700 00 


20,000 


00 


69 


13,800 00 


5,000 


00 


64 


3,200 00 


4,825 


00 


78 


3,900 00 


4,950 


00 


71 


3,550 00 


4,950 


00 


88 


4,400 00 


4,837 


50 


85 


4,250 00 


9,875 


00 


83 


8,300 00 


5,000 


00 


100 


5,000 00 


9,950 


00 


104 


10,400 00 


5,000 


00 


79 


3,950 00 


5,000 


00 


92 


4,600 00 


7,737 


50 


76 


7,600 00 


5,000 


00 


84 


4,200 00 


4,780 


00 


75 


3,750 00 


4,875 


00 


94 


4,700 00 


4,925 


00 


79 


3,950 00 


5,000 


00 


96 


4,800 00 


4,587 


50 


85 


4,250 00 


4,007 


50 


85 


4,250 00 


10,000 


00 


103 


10,300 00 



98 



QUIXCY MUTUAL FIRE IXSURA.V E CO. 



New York Central cons. 4s, 1998, 
New York Central coll. trust 7s, 1930, 
N. Y., X. H. & H. (H. R. & Pt. Ch. Div.) 4s, 1954 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Pennsylvania 4§s, 1965, .... 
Pennsylvania 7s, 1930, .... 
Southern Pacific 4s, 1929, 
West End Street 4s, 1932, 

Miscellaneous Bonds. 
American Telephone & Telegraph 4s, 1929, 
American Telephone & Telegraph 5s, 1946, 
American Telephone & Telegraph 6s, L922, 
Bethlehem Steel marine equip. 7s, 1935, 
Brooklyn Edison gen. 6s, 1930, . 
Cleveland Electric Illuminating 5s, 1939, 
Cleveland Electric Illuminating 1st 7s, 1935, 
Consolidated Gas, Elec. Lt. & Pwr. 4ks, 1935, 
Detroit Edison 5s, 1940, .... 
Edison Electric Illuminating, Boston, 6s, 1922, 
Massachusetts Gas 4jS, 1929, 
Mississippi River Power 5s, 1951, 
Ontario Power, X'iagara, 5s, 1943, 
Pacific Light & Power 5s, 1942, 
Railway & Light Securities 5s, 1946, 
Texas Company notes, 7s, 1923, 
United States Rubber 5s, 1947, . 
Western Electric 5s, 1922, 
"Western Telephone & Telegraph 5s, 1932, 



Book Value. 


Rate. 


Market Value. 


''93 


75 




50 00 


10,000 


00 


103 


10,300 00 


5,000 


00 


72 


3,600 00 


4,760 


00 


97 


50 00 


9,378 


75 


88 


H) 00 


9,975 


00 


105 


10. .300 00 


4,418 


75 




4,1". 


14 


75 


75 


11,-'" 


9,106 


25 


81 


8,100 00 


9,900 


00 


86 


•0 00 


4,962 


50 


98 


4,900 00 


9,400 


00 


95 


)0 00 


9,275 


00 


88 


>0 00 


4,712 


50 


>7 


4,350 00 


9,525 


00 


99 


9,900 00 


4,650 


00 


79 


3,950 00 


5,000 


00 


-7 


4,350 00 


4,975 


00 


99 


4,950 00 


4,987 


50 


90 


4,500 00 


11,268 


75 


78 


11.700 00 


4,750 


00 


85 




4,912 


50 


91 


4,5: 


4,950 


00 


85 


4,250 00 


14,812 


50 


99 


14.8S 


16,433 


75 


83 


10,600 00 


3,975 


00 


97 


3,880 00 


5,000 


00 


87 


4,350 00 


$.374,404 


88 


S539.332 13 



QUIXCY MUTUAL FIRE INSURANCE COMPANY, QUIXCY. 

Incorporated March 22, 1851. Commenced business May. 1S51. 
CHARLES A. HOWLAXD, President. JAMES F. YOUNG , Secretary. 

Office, 2 Coddington Street. 

Income. 
.Net fire premiums, ........ 

Gross interest on mortgages, S2.445.66; collaterals. $1,620; 

stocks and bonds, $47,065.74 ; bank deposits, .S41S.06, 
Gross profit on sale of storks, ...... 

From all other sources, ........ 

Total income, ........ 

Ledger assets, Dec. 31, 1919, ....... 

Total, 

Disbursements. 

Xet amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 
Agents' compensation, including brokerage, 
Agents' allowances, ..... 
Salaries and fees of directors, officers and clerks, 

Rents 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 

Federal taxes, . ... 

Other taxes, licenses and fees, 



$242,571 53 

51.549 46 

2,300 00 

520 76 

•0,941 75 

1,016,794 51 

$1,313,736 26 



S69,82S 39 

1.424 38 

39.515 00 

289 15 

33.794 30 

2,211 49 

493 95 

1.211 45 

3,834 S2 

1,370 5S 

2.947 20 



QUINCY MUTUAL FIRE INSURANCE CO. 



99 



Postage, telegraph, telephone, exchange and express, 
Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Auditing, ....... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, 
Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, . . . . ' . 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, ....... 

Non-Ledger Assets. 

Interest due and accrued on mortgages, $1,544.05; bonds, 

$10,336.05; collateral loans, $187.36, 

Market value of stocks and bonds over book value, . 

Gross assets, ......... 

Liabilities. 

Unpaid losses, $7,282.79; less recognized reinsurance, $249.25, 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Salaries, expenses and accounts due or accrued, 

Federal, state and other taxes due or accrued, 

Return premiums, .... 

Interest paid in advance, 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



$1,173 18 
5 00 


2,907 46 

27 97 


81,540 55 


11,858 30 


750 00 


53 88 


$255,237 05 


$1,058,499 21 


$61,217 48 

27,000 00 

934,487 80 

634 45 


15,878 80 
19,280 68 


$1,058,499 21 


12,067 46 
36,743 76 


$1,107,310 43 


$7,033 54 

371,497 23 

2,752 53 


330 84 


2,250 00 


295 27 


23 00 



$384,182 41 
723,128 02 

$1,107,310 43 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog 
nized companies, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$43,121,204 00 
17,480,892 00 



$60,602,096 00 
14,073,744 00 

$46,528,352 00 

1,245,044 00 



Cash Prem's. 

$687,599 07 
271,060 21 

$958,659 28 
224,977 30 

$733,681 98 

13,893 36 



Conting't Prem's. 

$687,599 07 
271,060 21 

$958,659 28 
224,977 30 

$733,681 98 



$45,283,308 00 $719,788 62 



100 



QUINCY MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 

Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends paid policy holders from organization of company, 
Dividends to policy holders during 1920: 20, 30, 40, 50 and 60 
per cent. 

Schedule A. Securities held as Collateral. 



100 shares Granite Railway, 

36 " Quincy Electric Light <fe Power, 
200 " Lawrence Duck, 



§8,770,974 48 
3,473,594 28 
3,128,650 22 



Company '8 


Loaned 


Market Value. 


Thereon. 


$12,000 00 


$0,000 00 


9,180 00 


6,000 00 


30,000 00 


15,000 00 



Sol, 180 00 $27,000 00 



Schedule B. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
11 shares Old Colony, 

Bank Stocks. 
150 shares Brockton National, 
225 
55 
422 



30 

87 

100 



Commonwealth Trust, Boston, . 
Merchants National, Boston, 
National Mt. Wollaston, Quincy, 
National Rockland, Boston, 
Rockland Trust, 
Second National, Boston, . 
State Street Trust, Boston, 



Miscellaneous Stocks. 
32 shares Michigan State Telephone, pref., 
74 " Tacoma Gas & Fuel, common, . 
18 " Tacoma Gas & Fuel, preferred, . 

Government Bonds. 
British government b\s, 1937, . 
Canada 5s, 1926, 
United States 4s, 1942, op. 1927, 
United States 4|s, 1928, . 
United States 41s, 1928, . 
United States 4|s, 1938, op. 1933, 
United States 4is, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States 4fs. 1923, op. 1922, 

Railroad Bands. 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Bay State Street notes, 5s, 1929, 
Boston & Maine 4*s, 1929, 
Chicago Railways 1st 5s, 1927, . 
Chicago, Burlington & Quincy gen. 4s, 1958, 
Chicago & Northwestern gen. 5s, 1987, 
Louisville & Nashville unified 4s, 1940, 
New York Central equip, notes, 7s, 1927, . 
New York Central deb. 4s, 1934, 
New York Central deb. 6s, 1935, 
Great Northern 1st and ref. 4|s, 1961, 
Norfolk & Western cons. 4s, 1996, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Oregon Short Line ref. 4s, 1929, 
Pennsylvania gen. 7s, 1930, 
Pennsylvania gen. 4^s, 1965, 
Pennsylvania gen. 5s, 1968, 
Peoria Railway Terminal 4s, 1937, 
Pere Marquette 1st 5s, 1956, 
Portland Railway Light & Power 5s, 1942, . 
Union Pacific 4s, 1947, .... 

Miscellaneous Bonds. 
Adirondack Electric Power 1st 5s, 1962, 
Alabama Power 1st 5s, 1946, 
American Tel. & Tel. coll. trust 4s, 1929, . 



Book Value. 


Rate. 


Market Value. 


$1,100 00 


93 


SI, 023 00 


16,250 00 


155 


23.250 00 


33,750 00 


183 


41.175 00 


10,540 00 


277 


15,235 00 


52,115 75 


127 


53,594 00 


12,056 00 


315 


27,720 00 


3,600 00 


250 


7,500 00 


15,056 00 


320 


27,840 00 


15,050 00 


238 


23,800 00 


1,605 00 


66 


2,112 00 


• } 5,188 60 | 


5 
55 


370 00 
990 00 


14,860 50 


93 


13,950 00 


9,713 00 


94 


9,400 00 


30,000 00 


100 


30,000 00 


25,000 00 


100 


25,000 00 


71,016 00 


88 + 


71,016 00 


25,000 00 


100 


25,000 00 


164,428 43 


92 + 


164,428 43 


25,000 00 


100 


25,000 00 


4,928 13 


98 + 


4,928 13 


3,993 75 


81 


4,050 00 


10,000 00 


8 


BOO 00 


3,750 00 


79 


3,950 00 


4,975 00 


75 


3.750 00 


4,056 25 


83 


4,150 00 


4,856 25 


99 


4,950 00 


4.131 25 


86 


4,300 00 


5.000 00 


103 


5,150 00 


14,550 00 


63 


16,600 00 


9,862 50 


95 


9,500 00 


4,256 25 


87 


4,350 00 


3,931 25 


81 


4,050 00 


24,033 48 


97 


46,560 00 


9,487 50 


84 


>.400 00 


10,972 50 


105 


11,550 00 


2,925 00 


88 


2.640 00 


14,175 00 


94 


14,100 00 


12,280 66 


45 


6,300 00 


9,500 00 


86 


8,600 00 


4,812 50 


63 


3,150 00 


4,231 25 


85 


4,250 00 


5,000 00 


85 


4,250 00 


9,712 50 


85 


S.500 00 


23,268 75 


81 


20,250 00 



RUBBER MANUFACTURERS MUTUAL INSURANCE CO. 



101 



American Tel. & Tel. coll. trust 5s, 1946, 

California Gas & Electric unif. and ref. 5s, 1937, 

Central Hudson Gas & Elec. 1st ref. 5s, 1941, 

Consumers Power 1st 5s, 1936, . 

Detroit Edison 5s, 1940, . 

Idaho Power 1st 5s, 1947, 

Illinois Steel deb. 4fs, 1940, 

Lincoln Telephone & Telegraph 5s, 1946, 

Michigan State Telephone 1st 5s, 1924, 

Minneapolis General Electric 5s, 1934, 

Montana Power 1st and ref. 5s, 1943, 

New York Telephone 4 is, 1939, 

Northern States Power 5s, 1941, 

Pacific Coast Power 1st 5s, 1940, 

Pacific Telephone & Telegraph 1st 5s, 1937 

Seattle Electric 5s, 1929, . 

Southern California Edison gen. and ref. 6s, 1944 

Swift & Co. 1st 5s, 1944, . 

Utah Power & Light 5s, 1944, . 



Book Value. 


Rate. 


Market Value. 


$9,845 


00 


86 


$8,600 00 


9,550 


00 


89 


8,900 00 


10,000 


00 


88 


8,800 00 


18,950 


00 


87 


17,400 00 


9,850 


00 


87 


8,700 00 


9,350 


00 


83 


8,300 00 


4,637 


50 


86 


4,300 00 


9,975 


00 


82 


8,200 00 


10,000 


00 


90 


9,000 00 


20,042 


50 


88 


17,600 00 


9,425 


00 


88 


8,800 00 


9,725 


00 


84 


8,400 00 


9,650 


00 


82 


8,200 00 


4,750 


00 


85 


4,250 00 


14,475 


00 


90 


13,500 00 


10,000 


00 


86 


8,600 00 


9,750 


00 


93 


9,300 00 


4,993 


75 


90 


4,500 00 


9,500 


00 


84 


8,400 00 


$934,487 80 


$971,231 56 



RUBBER MANUFACTURERS' MUTUAL INSURANCE COMPANY, 

BOSTON. 

Incorporated Nov. 4, 1884. Commenced business Jan. 15, 1885. 
ARTHUR H. LOWE, President. BENJAMIN TAFT, Secretary. 

Office, 31 Milk Street. 



Income. 
bank deposits, $2,918.50, 



Net fire premiums, 

Gross interest on bonds, $46,427.41 

Gross profit on sale of bonds, . 

Total income, 
Ledger assets, Dec. 31, 1919, . 

Total, .... 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Agents' compensation, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Inspection department, for inspections, maps, plans 
ment of losses, ...... 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 



and adjust- 



$986,238 45 

49,345 91 

620 08 

$1,036,204 44 
1,109,997 90 

$2,146,202 34 



$46,676 87 

79 50 

2,063 41 

19,016 86 

2,143 34 

526 41 

18,787 61 

2,642 09 

4,093 55 

969 70 

314 68 

2,S79 19 

730,319 22 

4,668 42 

47 50 

6 98 

$835,235 33 

$1,310,967 01 



102 RUBBER MANUFACTURERS' MUTUAL INSURANCE CO. 



Ledger Assets. 

Book value of bonds (Schedule A), $1,122,625 05 

Deposits in trust companies and banks on interest, . . . 130. 027 18 

Premiums in course of collection, ...... 58,314 



Total ledger assets, $1,310,967 01 

Xox-Ledger Assets. 
Interest due and accrued on bonds, ..... 17,084 13 



Gross assets, $1,328,051 14 

Assets not admitted. 

Premiums over three months due, . . . §1,219 36 
Overdue and accrued interest on bonds in de- 
fault, ... ... 1,458 33 

Book value of bonds over market value, . . 97,201 v| > 

Discount on Canadian bank deposits, . . 1,800 92 101,680 41 



Admitted assets, .81,226,370 73 

Liabilities. 

Unpaid losses, si 1,830 00 

Unearned premiums on outstanding risks, .... 604,548 62 

Salaries, expenses and accounts due or accrued, . . . 766 28 

Federal, state and other taxes due or accrued, .... 4,064 90 



Total, 8621.209 80 

Surplus to policy holders, ....... 605,160 93 



Total liabilities, including surplus, 81,226,370 73 

Risks and Premiums. 

Fire risks: Risks. CashPrem's. Conting't Prem's. 

In force Dec. 31, 1919, . 8125,081,327 00 8985.215 08 S4,926,075 40 
Written during the year, . 132,148,399 00 1,043,868 59 5,219.342 95 



Total, . . . 8257,229,726 00 82,029,083 67 810.145.418 35 

Expired and terminated, . 110,169,639 00 SS3,463 49 4.417.317 45 



In force at end of year, ' . 8147,060,087 00 81,145,620 IS 85.72S.100 90 

Miscellaneous. 

Xet premiums received from organization of company, . 812.652.05' 

Xet losses paid from organization of company. . . . 1,531,032 99 

Cash dividends paid policy holders from organization of company, 8,986,254 36 
Dividends to policy holders during 1920: 90, 80, 71 and 61 per 

cent. 
Losses incurred during the year: wind storms and tornadoes, 

8525.48; sprinkler leakage, 83,471.18. 



RUBBER MANUFACTURERS MUTUAL INSURANCE CO. 



103 



Schedule A. Bonds owned by the Company. 



Government Bonds 
Belgium 7|s, 1945, . 
Canada 5s, 1937, 
Canada 5is, 1929, . 
French Republic 8s, 1945, 
Sweden 6s, 1939, 
United King, of Gt. Britain & Ireland 5§s, 1929 
United States 3|s, 1947, op. 1932, 
United States 3£s, 1947, op. 1932, 
United States 4is, 1942, op. 1927, 
United States 4is, 1928, . 
United States 4Js, 1928, . 
United States 4|s, 1938, op. 1933, 
United States 4Js, 1938, op. 1933, 
United States 4|s, 1923, op. 1922, 
United States 4fs, 1923, op. 1922, 

State, County and Municipal Bonds. 
Belzoni Drainage District. Miss., 6s, 1932, 
Cook County, 111., 4s, 1925, 
Copenhagen, Denmark, 5|s, 1944, 
Manitoba 6s, 1925, . 
Manitoba 6s, 1930, . 
Massachusetts 3 -is, 1935, . 
Massachusetts 3-|s, 1940, . 
New Brunswick 5|s, 1929, 
Ontario 6s, 1928, 
Toronto, Ont., harbor comm'rs 4§s, 1953, 

Railroad Bonds. 
Atchison, Topeka & Santa Fe 4s, 1928, 
Aurora, Elgin & Chicago 5s, 1946, 
Baltimore & Ohio prior lien 3 is, 1925, 
Baltimore & Ohio 1st 4s, 1948, . 
Baltimore & Ohio ref. and gen. 5s, 1995, 
Baltimore & Ohio 6s, 1929, 
Bangor & Aroostook cons. 4s, 1951, . 
Boston & Albany deb. 4s, 1933, 
Boston & Albany terminal S^s, 1951, 
Boston & Albanv ref. 3 is, 1952, 
Boston & Maine 4s, 1926, 
Boston & Maine 4£s, 1929, 
Boston & New York Air Line 4s, 1955, 
Boston & Worcester Street 4^s, 1923, 
Boston Elevated 4s, 1935, 
Canadian Northern notes, 5£s, 1924, . 
Chesapeake & Ohio conv. 5s, 1946, 
Chicago, Milw. & St. Paul gen. and ref. 4|s, 2014 
Chicago, Milw. & St. Paul gen. and ref. 5s, 2014, 
Chicago, Milw. & St. Paul deb. 4s, 1934, 
Chicago Union Station 1st 6^s, 1963, 
Delaware & Hudson 5s, 1935, 
Elizabeth & Trenton 5s, 1962, 
Fitchburg 4s, 1927-28, 
Florida East Coast 4^s, 1959, 
Grand Trunk deb. 7s, 1940, 
Illinois Central coll. trust 4s, 1953, 
Lake Shore & Michigan Southern 4s, 1928, 
Lake Shore & Michigan Southern 4s, 1931, 
Maryland, Delaware & Virginia 5s, 1955, 
Middlesex & Boston Street 4|s, 1932, 
Minn., St. Paul & S. Ste. M. cons. 4s, 1938 
Missouii Pacific gen. 4s, 1975, . 
Montreal Tramways 5s, 1941, . 
New York & Putnam 4s, 1993, . 
New York Central equip, trust 4^s, 1921, 
New York Central equip, trust 4^s, 1924, 
New York Central cons. 4s, 1998, 
New York Central coll. trust 7s, 1930, 
New York Central & Hud. Riv. deb. 4s, 1934, 
N. Y. Cent. & Hud. Riv. ref. and imp. 4|s, 2013 



Book Value. 
$9,725 00 

9,575 

9,800 
10,000 

4,975 

4,812 
28,000 

9,983 
35,000 
25,000 
18,633 
70,000 00 
30,752 63 
45,000 00 
19,384 25 



5,000 

4,793 

1,870 

4,792 

4,644 

18,625 

38,675 

4,725 

10,000 

3,543 



00 
00 
00 
00 
50 
00 
12 
00 
00 
25 



00 
75 
00 
00 
50 
00 
60 
00 
00 
75 



00 
00 
00 
00 
00 
00 
00 
00 
00 
50 
75 
00 
00 
00 



9,820 

4.750 

4,725 

9,250 

5,000 
16,905 

4.250 

4,770 
845 

7,582 

9,643 

9,050 

3.000 

4,675 

6,000 00 

9,425 00 

6,300 00 
15,975 00 

6,615 00 

9,200 00 

9,850 00 

5,000 00 

4,850 00 
20,000 00 

4,812 50 

9,975 

8,600 

2,970 
14,790 
10,000 00 

9,412 50 

9,293 

4,712 

4,925 

4,562 

1,968 

2,918 
12,000 

9,000 

4,600 

4,725 



00 
00 
00 
00 



75 
50 
00 
50 
80 
40 
00 
00 
00 
00 



Rate. 
100 

96 

97 
102 

94 

93 
100 

99 + 
100 
100 

93 + 
100 

87 + 
100 

96 + 

100 
97 
84 
99 
98 
88 
86 
99 
97 
75 

89 

25 

87 

76 

77 

94 

52 

84 

68 

68 

78 

79 

69 

64 

69 

95 

86 

67 

79 

70 
105 

92 

71 

83 

83 
102 

74 

88 

87 

35 

70 

85 

60 

78 

75 
100 

95 

73 
103 

83 

82 



00 
00 
00 
12 
00 
00 
9* 



Market Value. 
$10,000 00 

9,600 00 

9,700 00 
10.200 00 

4,700 

4,650 
28,000 

9,983 
35,000 
25,000 
18,633 
70,000 00 
30,752 63 
45.000 00 
19,384 25 

5,000 00 
4,850 00 
1,680 00 
4,950 00 
4,900 00 
17,600 00 
34,400 00 
4,950 00 
9,700 00 
3,750 00 

8,900 00 
1,250 00 
4,350 00 
7,600 00 
3,850 
16,920 
2,600 
4,200 
680 
6,120 
7,800 
9,480 
2,070 



00 
00 
00 
00 
00 
00 
00 
00 
00 
3,200 00 



00 
00 
00 
00 
00 
00 



4,140 

9,500 

6,020 
13,400 

7,900 

7,000 
10,500 00 

4,600 00 

3,550 
16,600 

4,150 
10,200 

7,400 

2,640 
14,790 

3,500 

7,000 

8,500 00 

3,000 00 

3,900 00 

3,750 00 

2,000 00 

2,850 00 
10,950 

9,270 

4,150 

4,100 



00 
00 
00 
00 
00 
00 
00 
00 
00 



00 
00 
00 
00 



104 



SALEM MUTUAL FIRE INSURANCE I 



New York, Chicago & St. Louis 4s, 1931, 

New York Connecting 4js, 1953, 

New York, New Haven & Hartford deb. 4s, 1955 

Northern Maine Seaport 5s, 1935, 

No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Pennsylvania gen. 45S, 1965, 

Pennsylvania gen. 5s, 1968, 

Richmond-Washington 4s, 1943, 

Rock Island, Arkansas & Louisiana 4 §8, 1934, 

St. Joseph Ry., Lt., Ht. & Pwr. 5s, 1946, . 

St. Louis Merchants' Bridge Terminal 5s, 1930, 

Seaboard Air Line cons. 6s, 1945, 

Terre Haute Traction & Light 5s, 1944, 

"Waterloo, Cedar Falls & Northern 5s, 1940, 

AVest End Street 4s, 1932, 

West End Street 5s, 1936, 

Worcester & Holden Street 5s, 1923, . 

Miscellaneous Bonds. 
American Agricultural Chem. conv. deb. 5s, 1924, 
American Tel. & Tel. coll. trust 4s, 1929, 
American Tel. & Tel. coll. trust 5s, 1946, 
American Tel. & Tel. notes, 6s, 1922, 
American Writing Paper 1st 7s, 1939, 
Bellows Falls Power 5s, 1922, . 
Bell Telephone, Canada, 7s, 1925, 
Bell Telephone, Pa., 1st and ref. 7s, 1945, . 
Buffalo General Electric 1st ref. 5s, 1939, . 
Connecticut River Power, N. H., 5s, 1937, . 
Consumers Power 5s, 1936, 
Denver Gas & Electric Light 5s, 1951, 
Detroit Edison 1st and ref. 5s, 1940, . 
Detroit Edison conv. deb. 7s, 1930, 
Duquesne Light 1st and coll. trust 6s, 1949, 
Edison Electric Illuminating, Boston, 5s, 1922, 
Mississippi River Power 1st 5s, 1951, 
New England Tel. & Tel. deb. 4s, 1930, 
North Boston Lighting Properties 6s, 1922, 
Northern States Power 1st and ref. 5s, 1941, 
Northern Texas Electric 5s, 1940, 
Shawinigan Water & Power 7*s, 1926, 
Swift & Co. 5s, 1944. 
Waltham Watch note, 6s, 1924. 
Western Electric 1st 5s, 1922. . 
Western Electric conv. 7s, 1925, 
Western Union Telegraph 4§8, 1950, 
Wisconsin Electric Power 1st 7|s, 1945, 



Book Value. 


Rate. 


Market Value. 


$9,262 


50 


-:, 


300 00 


4,925 


00 


84 


4.200 00 


20,000 


00 




11.200 00 


15,000 


00 




rso 00 


16 


00 


97 


16.4 


14.r,s7 


50 




132200 00 


4,437 


50 


94 


4.700 00 


9,000 


00 


81 


•0 00 


4,693 


, s 


69 


3.4.50 00 


6,615 


00 


75 


50 00 


.000 


00 


93 


>50 00 


. 


00 


70 


00 


5,000 


00 


82 


4,100 00 


4,437 


50 


44 


2,200 00 


1.772 


50 


, 5 


1,500 00 


10,000 


00 


79 


10 00 


4,000 


00 


50 


2,000 00 


4,825 


00 


97 


4,850 00 


27,057 


50 


81 


>0 00 


980 


00 


86 


00 


9,487 


50 


98 


•0 00 


10,000 


00 


83 


K) 00 


4.7^7 


50 


95 


'50 00 


4,887 


50 


95 


4.750 00 


9,912 


50 


101 


10.100 00 


5,000 


00 


86 


4,300 00 


4,750 


00 


90 


4,500 00 


9,550 


00 




•0 00 


12,790 


00 




11.760 00 


13,900 


00 


87 


13,0 


5,000 


00 


103 


5.1.50 00 


3,000 


00 


95 


2,850 00 


5,000 


00 


97 


4,850 00 


3.806 


25 


78 


3,900 00 


17,000 


00 


82 


13,940 00 


5,000 


00 


99 


4,950 00 


4,300 


00 


82 


4,100 00 


4,800 


00 


76 


3,800 00 


9,925 


00 


100 


10,000 00 


5,000 


00 


90 


4,500 00 


4,950 


00 


96 


4,800 00 


1,992 


50 


97 


1,940 00 


9.850 


00 


99 


9,900 00 


20,000 


00 


^4 


-00 00 


1132 


00 


100 


12.000 00 


SI, 122.625 


05 


$1,025,423 25 



SALEM MUTUAL FIRE INSURANCE COMPANY. SALEM. 

Incorporated April 17, 1S38. Commenced business May 1, 1S38. 
S. HERBERT WELKINS, President. ARTHUR DERBY, Secretary. 

Office, 43 Church Street. 

Into me. 
Net fire premiums, ........ $44,097 OS 

Gross interest on mortgages, S165; stocks and bonds, S1,666.S7; 

bank deposits. 8170.70, 2,002 57 

Total income, 846.099 65 

Ledger assets, Dec. 31, 1919, . ...... ">.631 53 



Total, 



8104.731 IS 



SALEM MUTUAL FIRE INSURANCE CO. 



105 



Disbursements. 
Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, . . . . 

Inspections, surveys, underwriters' boards and tariff association* 
Federal taxes, . . . . 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Dividends to policy holders, . . # 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A) , . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest due and accrued on mortgages, $16.95; bonds, $711.33, 

Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . . $151 40 

Book value of stocks and bonds over market 
value, 1,408 29 



$7,087 


31 


265 


00 


4,490 


16 


5,862 


95 


665 


00 


94 50 


29 


00 


1,712 


61 


693 


02 


622 


54 


572 


54 


10 


00 


825 


22 


18 46 


6,222 


87 


215 


41 


$29,386 59 


$75,344 59 


$3,000 00 


52,081 


49 


699 


35 


5,100 


65 


14,463 


10 


$75,344 59 


728 28 


$76,072 87 



Admitted assets, ........ 

Liabilities. 

Unpaid losses, $1,733.99; less recognized reinsurance, $1,637.02, 

Unearned premiums on outstanding risks, 

Dividends due policy holders, 

Salaries, expenses and accounts due or accrued, 

Federal, state and other taxes due or accrued, 

Contingent commissions or other charges due or accrued, 

Return premiums, .... 

Total, 

Surplus to policy holders, 

Total liabilities, including surplus, 



1,559 69 



$74,513 


18 


$96 97 


33,188 73 


2,931 


88 


92 


15 


543 


19 


2,289 


87 


976 


28 



$40,119 07 
34,394 11 

$74,513 18 



106 



SOUTH DANVERS MUTUAL FIRE INSURANCE CO. 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

. $9,039,739 00 
6,262,833 00 



Cash Prem's. Conting't Prem's. 

8134,945 39 §134,045 39 
90,866 02 90,866 02 



$15,302,572 00 
4,706,531 00 



8225,811 41 8225,811 41 
72,465 82 72,465 82 



In force at end of year, . . $10,596,041 00 
Deduct reinsurance in recog- 
nized companies, . . . 6,929,697 00 



8153,345 59 §153,345 59 
95,082 66 



Net amount in force, 



$3,666,344 00 
Miscellaneous. 



§58,262 93 



Net losses paid from organization of company, 
Dividends to policy holders during 1920: 20 per cent. 



22,182 14 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. Book Value. 

7 shares Boston & Maine, preferred, . $700 00 

2 '• Boston & Maine, common, . . . 200 00 

Miscellaneous Stocks. 

36 shares Salem Gas Light, .... 4,326 29 
Government Bonds. 

Canada 5§s, 1929, 1,940 00 

United States 4^s, 1942, op. 1927, . . . 3,000 00 

United States 41s, 1938, op. 1933, . . . 5,000 00 

United States 4fs, 1923, op. 1922, . . . 7,000 00 

United States 4fs, 1923, op. 1922, . . . 5,965 20 

United States certs, of indebtedness 5fs, 1921, . 10,000 00 
Municipal Bonds. 

Maiden, Mass., 4s, 1925 1,957 50 

Railroad Bonds. 

Pacific Fruit Express equip. 7s, 1935, . . 1,015 00 

Miscellaneous Bonds. 

American Tel. & Tel. coll. trust 5s, 1946, . . 5,925 00 

Detroit Edison 7s, 1930, 2,955 00 

Pittsfield Electric 1st 6s, 1933, .... 2,097 50 

S52.081 49 



Rate. 
50 
35 

113 

97 
100 
100 
100 

99 + 
100 

97 

105 



Market Value. 
50 00 
70 00 

4,068 00 

1,940 00 
3,000 00 
5,000 00 
7,000 00 
5,965 20 
10,000 00 

1,940 00 

1,050 00 



86 5,160 00 
103 3,090 00 
102 2,040 00 



$50,673 20 



SOUTH DANVERS MUTUAL FIRE INSURANCE COMPANY, 

CONCORD. 

Incorporated June 12, 1829. Commenced business Aug. 1, 1829. 
PRESCOTT KEYES, President. FRANK TAYLOR, Secretary. 

Income. 

Net fire premiums, 8103,256.09; marine, $18,719.72, . . §121,975 SI 
Gross interest on stocks and bonds, $4,400. 81; bank deposits, 

S236.98, 4,637 79 

Gross profit on maturity of bonds, . . . . . . 24 



Total income, 
Ledger assets, Dec. 31, 1919, 



8126.699 S4 
94.977 17 



Total, 



8221.677 01 



SOUTH DANVERS MUTUAL FIRE INSURANCE CO. 



107 



Disbursements . 

Net amount paid policy holders for fire losses, $33,892.61 ; marine, 

$4,485.15, 

Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Total disbursements, .... 

Balance, . . . 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 

Xox-Ledger Assets. 
Interest accrued on bonds, .... 
Market value of stocks and bonds over book value, 

Gross assets, ...... 



$38,377 76 


303 


69 


26,719 22 


1,193 


76 


492 


41 


6,596 


73 


560 


10 


2,258 46 


813 


85 


518 


91 


339 


03 


1,072 40 


9,647 


17 


$88,893 49 


. $132,783 52 


. $105,665 88 


4,785 


33 


22,332 31 


. $132,783 


52 


1,174 


98 


2,269 


62 


. 8136,228 


12 



Assets not admitted. 
Agents' balances over three months due, . 

Admitted assets, ..... 



2,648 72 



. $133,579 40 



Liabilities. 

Unpaid losses, $8,518.45; less recognized reinsurance, $2,018.72, $6,499 73 

L'nearned premiums on outstanding risks, .... 82,183 91 

Dividends due policy holders, ...... 359 45 

Salaries, expenses and accounts due or accrued, . . . 369 72 

Federal, state and other taxes due or accrued, .... 1,200 00 

Total, $90,612 81 

Surplus to policy holders, ....... 42,966 59 



Total liabilities, including surplus, 



$133,579 40 



108 



SOUTH DANVERS MUTUAL FIRE INSURANCE CO. 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 

Marine risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Net amount in force, 



Risks and Premiums. 

Risks. 

si 0,436,099 00 
13,843,024 00 



$24,279,123 00 
9,457,620 00 

$14,821,503 00 

3,843,894 00 



$587,733 00 
1,288,686 00 

$1,876,419 00 
565,903 00 

$1,310,516 00 

470,444 00 

$840,072 00 



Cash Prem'8. Conting't Prem's. 

$137,898 19 $119,918 74 
148,060 95 76,751 30 



$285,959 14 $196,670 04 
107,361 56 61,02!) 



$178,597 58 $135,640 15 
45,022 55 



$10,977,609 00 S133,575 03 



$12,710 51 
27,024 14 

$39,734 65 
13,449 33 

$26,285 32 

8,046 59 

$18,238 73 



S3,593 10 
6,536 58 

$10,12!* 
1,189 03 

$8,940 65 



Miscellaneous. 

Dividends to policy holders during 1920: 20 and 10 per cent. 
Net premiums written during the year: motor vehicles. $18,719.72; 

wind storms and tornadoes, $233.09; explosion, $13.54. 
Losses incurred during the year: motor vehicles, $4,649.11; wind 

storms and tornadoes, $87.71; explosion, $0.33. 



Schedule A. Stocks and Bonds owned by the 



Railroad Stocks. 
61 shares Pennsylvania, ..... 
Bank Stocks. 
1 share Cape Ann National, Gloucester, . 
20 shares Warren National, Peabody, 

Miscellaneous Stocks. 
24 shares American Telephone & Telegraph, 
20 " Androscoggin Mills, Maine, 
36 " Nashua Manufacturing, common, 
45 " Nashua Manufacturing, preferred, 
16 " Old Bay State Insurance Co., 
Government Bonds. 

Belgium 6s, 1925 

Canada 5^s, 1921, . . ... 

United King, of Gt. Britain & Ireland 5§s, 1921, 
United King, of Gt, Britain & Ireland 5£s, 1922, 
United States 4Js, 1938, op. 1933, 

State and Municipal Bonds. 
Alberta 5s, 1926, 
Boston, Mass., 4s, 1946, . 
British Columbia 4§s, 1925, 
Concord, Mass., 4s, 1931, . 
Ontario 5s, 1926, 



Book Value. 
$3,499 36 

150 00 
2,200 00 

2,915 90 
2,000 00 
2.779 25 
4,500 00 
5,120 00 

2,872 50 

4,987 50 

985 00 

1,960 00 

17,205 00 

970 00 

974 00 
3.725 00 

988 75 
2,000 00 



Company. 

Rate. Market Value. 

91 "75 50 



150 
120 

103 
225 
203 

100 
320 

92 
100 
99 
97 
86 + 

93 

89 
93 
94 
94 



150 00 

2,400 00 

2.472 00 

4,500 00 

7,308 00 

4,500 00 

5,120 00 

2,760 00 

5,000 00 

990 00 

1,940 00 

17,205 00 

930 00 

890 00 

3.720 00 

940 00 

1,880 00 



TRADERS AND MECHANICS INSURANCE CO. 



109 



Railroad Bonds. 
Boston & Maine 6s, 1930, 
Boston & Maine 4s, 1942, 
Chesapeake & Ohio 5s, 1946, 
New York Central 6s. 1935, 
New York Central & Hudson Riv. 3^s, 1997, 
New York, New Haven & Hartford 4s, 1922, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 

Miscellaneous Bonds. 
American Tel. & Tel. 6s, 1922, . 
American Tel. & Tel. 6s, 1925, . 
American Tel. & Tel. coll. trust 4s, 1929, . 
American Tel. & Tel. coll. trust 5s, 1946, 
Brown Co. 6s, 1921, .... 

Consumers Power 5s, 1936, 
New England Tel. & Tel. coll. trust 5s, 1932, 
Southern Power 5s, 1930, .... 
United Electric Securities 5s, 1944, 
Western Telephone & Telegraph 5s, 1932, . 



Book Value. 


Rate. 


Market Value. 


$2,500 00 


75 


$1,875 00 


3,084 


50 


63 


1,890 00 


3,466 


00 


86 


3,440 00 


3,726 


00 


95 


3,800 00 


2,094 


37 


72 


1,440 00 


750 


00 


76 


760 00 


2,823 


75 


97 


2,910 00 


4,789 


50 


98 


4,900 00 


2,899 


50 


100 


3,000 00 


1,790 


00 


81 


1,620 00 


992 


50 


86 


860 00 


3,000 


00 


100 


3,000 00 


4,245 


00 


87 


4,350 00 


1,000 


00 


89 


890 00 


2,625 


00 


90 


2,700 00 


3,960 


00 


82 


3,280 00 


2,087 


50 


87 


1,740 00 


$105,665 


88 


$107,935 50 



TRADERS' AND MECHANICS' INSURANCE COMPANY, LOWELL. 

Incorporated June, 1848. Commenced business June, 1848. 
EDWARD M. TUCKE, President. EDWARD W. BRIGHAM, Secretary. 

Office, 53 Central Street. 

Income. 

Net fire premiums, . $177,348 65 

Gross interest on mortgages, $937.28; stocks and bonds, 

$21,259.84; bank deposits, $353.89; all other, $81.67, . . 22,632 68 

Gross increase in book value of bonds, ..... 1,927 00 

Sale of furniture, 10 22 

From all other sources, . . . . . . . . 158 49 

Total income, $202,077 04 

Ledger assets, Dec. 31, 1919, 470,394 16 



Total, 



Disbursements. 



Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of stocks and bonds, 



• 


$672,471 20 


$64,144 31 




1,448 28 




34,037 28 




1,181 39 




19,982 70 




2,230 09 




1,928 33 


associations 


2,638 78 


. 


1,709 34 




2,986 85 


. 


1,039 38 


. . 


1,432 95 


. 


6 26 


. 


37,088 06 




120 00 


. 


4,656 25 



110 



TRADERS AXD MECHANICS INSURANCE I 



Auditing, ....... 

All other disbursement >. .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Reinsurance recoverable on paid losses, . 

Total ledger asset-. .... 

Xox-Ledger Assets. 
Interest due and accrued on mortgages, S168.48; bonds, S3, 715. 3 

Gross assets, ...... 

Assets not .admitted 

Agents' balances over three months due, . 

Overdue and accrued interest on bonds in de- 
fault. ....... 

Book value of stocks and bonds over market 
value, ....... 

Admitted assets, ........ 

Liabilities. 

Unpaid losses, including S250 resisted, $4,5801; lees recog- 
nized reinsurance, S507.S5. ....... 

ITnearned premiums on outstanding risks, . . . . 

Dividends due policy holders. ...... 

Salaries, expenses and accounts due or accrued, 

Federal, state and other Taxes due or accrued, . . . . 

Total, . 

Surplus to policy holder-. ....... 

Total liabilities, including surplus, . . . . . 



I 06 
138 19 



8177,229 50 
$495,241 70 



443 00 

436,200 00 

1,041 91 

25,437 36 

21,902 47 

216 96 



. 


8495,241 70 


ids, S3, 715. 37, 


3,883 85 




8499,125 55 


S371 74 




1.492 50 




49,894 75 


51,758 99 



8447,366 56 



S4,073 66 

259,265 SO 

3.112 99 

514 43 

2.700 00 

8269,666 88 
177,699 6S 

8447.366 56 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year. 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

. S42,190,470 00 
. 17,502,729 00 



Cash Prem's. Conting't Prem's. 

8579.264 44 8579.264 44 
221,948 62 221. 94S 62 



In force at end of year, . 
Deduct reinsurance in recog- 
nized companies, 

Xet amount in force, 



S59,693,199 00 
14.954,539 00 

844.73S.660 00 

5,296,5S7 00 



SS01.213 06 $801,213 06 
213,956 53 213,956 53 



S5S7.256 53 85S7.256 53 
74.347 20 



$39,442,073 00 8512.909 33 



UNITED MUTUAL FIRE INSURANCE CO. 



Ill 



Miscellaneous. 

Net premiums received from organization of company, . . $7,181,708 50 

Net losses paid from organization of company, . . . 2,964,302 30 

Cash dividends paid policy holders from organization of company, 2,854,443 19 
Dividends to policy holders during 1920: 20 per cent. 

Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 
50 shares Boston Elevated, .... 
23 £ " Eastern Massachusetts Street, adjust., 
188 " Massachusetts Electric, preferred, 
25 " Vermont & Massachusetts, 

Miscellaneous Stocks. 
43 shares Boott Mills, 
123 " Lawrence Gas, 
-555 " Lowell Gas Light, 
200 " Massachusetts Gas, preferred, 
66 " Merrimack Manufacturing, pref 
5 " Middlesex Co., 
100 " United States Steel, preferred, 

Government Bonds. 
United States 4Js, 1942, op. 1927, 
United States 4|s, 1928, . 
United States 4£s, 1938, op. 1933, 
United States 4Js, 1938, op. 1933, 
United States 4|s, 1923, op. 1922, 
United States 4fs, 1923, op. 1922, 

State Bonds. 
Massachusetts 3s, 1941, 

Railroad Bonds. 
Boston & Maine 4s, 1926, 
Boston & Maine 4£s, 1944, 
Eastern Massachusetts Street 5s, 1948, 
Illinois Central (Omaha Div.) 3s, 1951, 
Long Island (No. Shore Branch) 5s, 1932, 
Long Island City & Flushing 5s, 1937, 
New England 5s, 1945, 
New York Central 7s, 1929, 
Ogdensburg & Lake Champlain 4s, 1948, 
Pennsylvania 7s, 1930, 
Rutland Canadian 4s, 1949, 
Southern (St. Louis Div.) 4s, 1951, . 
United Traction & Electric, Providence, 5s, 1933, 

Miscellaneous Bonds. 
American Telephone & Telegraph 6s, 1925, 
Blackstone Valley Gas & Electric 5s, 1939, 
Boston Consolidated Gas 6s, 1921, 
New York Telephone deb. 6s, 1949, . 



Book Value. 


Rate. 


Market Value. 


$5,000 


00 


69 


$3,450 00 


2,350 


00 


- 


- 


18,800 


00 


11 


2,068 00 


2,500 


00 


87 


2,175 00 


4,300 


00 


95 


4,085 00 


12,300 


00 


108 


13,284 00 


55,500 


00 


167 


92,685 00 


20,000 


00 


66 


13,200 00 


6,600 


00 


76 


5,016 00 


500 


00 


60 


300 00 


10,000 


00 


112 


11,200 00 


5,000 


00 


100 


5,000 00 


5,000 


00 


100 


5,000 00 


20,000 


00 


90 + 


18,098 00 


10,000 


00 


100 


10,000 00 


10,000 


00 


994- 


9,994 25 


10,000 


00 


100 


10,000 00 


25,000 


00 


79 


19,750 00 


25,000 


00 


78 


19,500 00 


20,000 


00 


64 


12,800 00 


2,350 


00 


20 


470 00 


15,000 


00 


61 


9,150 00 


10,000 


00 


90 


9,000 00 


1,000 


00 


88 


880 00 


10,000 


00 


85 


8,500 00 


5,000 


00 


103 


5,150 00 


20,000 


00 


60 


12,000 00 


5,000 


00 


105 


5,250 00 


20,000 


00 


61 


12,200 00 


15,000 


00 


. 72 


10,800 00 


15,000 


00 


40 


6,000 00 


30,000 


00 


100 


30,000 00 


5,000 


00 


90 


4,500 00 


io;ooo 


00 


100 


10,000 00 


5,000 


00 


96 


4,800 00 


M36.200 


00 




$386,305 25 



UNITED MUTUAL FIRE INSURANCE COMPANY, BOSTON. 

Incorporated Oct. 31, 1908. Commenced business Nov. 5, 1908. 

Guaranty Capital, S100.000. 

LOUIS K. LIGGETT, President. ARCHIE W. CAMPBELL, Secretary. 

Office, Ul Milk Street. 

Income. 

Net fire premiums, $363,874.63; marine, $185,007.43, . . $548,882 06 
Gross interest on mortgages, $121.87; collaterals, $1,613.16; 
stocks and bonds, $22,203.37; bank deposits, $772.92; all 
other, $3.54, 24,714 86 



112 



UNITED MUTUAL FIRE INSURANCE CO. 



Gross profit on sale or maturity of bonds, 
Refund of federal tax, . 
Commission on reinsurance, . 
From all other sources, . 

Total income, . 

Ledger assets, Dec. 31, 1919, . 



SI 13 95 
563 42 

13,07.'; 41 
122 50 

$588,102 20 

501,796 48 



Total, 

Disbursements. 

Net amount paid policy holders for fire losses, $101,588.37 

marine, $41,212.72, . 
Loss adjustment expenses, 
Agents' compensation, including brokerag 
Agents' allowances, 
Field supervisory expenses, 
Salaries and fees of directors, officers and clerks, 
Rents, ..... 
Furniture and fixtures, . 
Maps, including corrections, . 
Inspections, surveys, underwriters' boards and tariff associations 
Taxes, licenses and fees, .... 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, . 
Dividends to policy holders, . 
Dividends on guaranty capital, 
Gross loss on maturity of bonds, 
Auditing, .... 
Investment expense, 
All other disbursements, 

Total disbursements, 

Balance, . 7 



• Ledger Assets. 

Loans secured by collateral (Schedule A), 
Book value of stocks and bonds (Schedule B), . 
Cash in office, . . . . 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Bills receivable, ...... 

Advance expense fund, ..... 

Total ledger assets, .... 



Non-Ledger Assets. 

Interest due and accrued on bonds, $7,634.62; collateral loans, 
$398.25; other assets, $43.40, 



. $1,089,898 68 


.' $142. Mil 


00 


5,631 


11 


24,789 


79 


443 


73 


2,576 


82 


59,736 


95 


4,186 5a 


8,595 


32 


119 00 


1,878 


35 


9,440 


68 


6,000 27 


17,118 86 


561 


68 


109,663 08 


7.000 00 


206 


60 


150 


00 


35 


00 


304 


37 



$401,239 23 
S68S,659 45 



$34,700 00 

516,763 42 

5,095 60 

63,637 75 

63,212 68 

250 00 

5,000 00 

8688,659 45 



8,076 27 



Gross assets, 



$696,735 72 



UNITED MUTUAL FIRE INSURANCE CO. 113 



Assets not admitted. 

Agents' balances over three months due, . . $5,433 67 

Overdue and accrued interest on bonds in de- 
fault, 175 00 

Book value of stocks and bonds over market 

value, 20,854 42 

Advance expense fund, ..... 5,000 00 

Discount on Canadian bank deposits, . . 888 27 $32,351 36 



Admitted assets, $664,384 36 

Liabilities. 

Unpaid losses, $29,260.72; less recognized reinsurance, $200, . $29,060 72 

Unearned premiums on outstanding risks, .... 291,094 34 

Salaries, expenses and accounts due or accrued, . . . 2,889 31 

Federal, state and other taxes due or accrued, .... 6,000 00 



Total, $329,044 37 

Guaranty capital, $100,000 00 

Surplus over all liabilities, .... 235,339 99 

Surplus to policy holders, .... 335,339 99 



Total liabilities, including surplus, ..... $664,384 36 

Risks and Premiums. 

Fire risks : Risks. Cash Prem's. Conting't Prem's.' 

In force Dec. 31, 1919, . . $21,241,387 00 $337,120 26 $337,120 26 

Written during the year, . 35,528,837 00 493,790 82 493,790 82 



Total, .... $56,770,224 00 $830,911 08 $830,911 08 
Expired and terminated, . 31,775,466 00 354,934 40 354,934 40 



In force at end of year, . . $24,994,758 00 $475,976 68 $475,976 68 
Deduct reinsurance in recog- 
nized companies, . . 5,604,974 00 89,966 64 



Net amount in force, . $19,389,784 00 $386,010 04 

A'lanne risks * 

In force Dec. 31, 1919, . . $2,110,250 00 $62,419 21 $62,419 21 

Written during the year, . 5,596,004 00 217,557 08 217,557 08 



Total, .... $7,706,254 00 $279,976 29 $279,976 29 
Expired and terminated, . 2,433,484 00 101,761 73 101,761 73 



In force at end of year, . . $5,272,770 00 $178,214 56 $178,214 56 
Deduct reinsurance in recog- 
nized companies, . . 42,500 00 422 70 



Net amount in force, . $5,230,270 00 $177,791 86 



114 



UNITED MUTUAL FIRE INSURANCE CO. 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends paid policy holders from organization of company, 

Dividends to policy holders during 1920: 25 and 35 per cent. 

Net premiums written during the year: motor vehicles, 

$187,357.98; wind storms and tornadoes, $935.66. 
Losses incurred during the year: motor vehicles, $48,185.57; wind 

storms and tornadoes, 0. 



$2,132,982 
755,951 

483,947 



24 
34 
38 



Schedule A. Securities held as Collateral. 



100 shares Winchester Co., 2d preferred, 



15 
75 
74 
25 

268 



United Drug, common, 
United Drug, common, 
United Drug, 1st preferred, 
United Drug, common, 
United Drug, common, 



Company '8 
Market Value. 
$4,000 00 

1,500 

7,500 

3,330 

2,500 
26,800 



Loaned 
Thereon. 

$5,200 00 

8,500 00 

1,000 00 
20,000 00 



$45,630 00 834,700 00 



Schedule B. Stocks and Bonds owned by the Company. 



Stocks. 
50 shares Chic, Rock Is. & Pac. R.R., B. pref., 
50 " Massachusetts Trust Associates, pref., 
50 " Massachusetts Trust Associates, com., 
11 " Continental Gas & Elec. Corp., pref., 

Government Bonds. 
Canada 5js, 1922, . 
Canada 5 is, 1934, . 
French Republic 5fs, 1937, 
French Republic 8s, 1945, 
United King, of Gt. Britain & Ireland 5Js. 1937 
United States 3 is, 1947, op. 1932, 
United States 4Js, 1942, op. 1927, 
United States 4Js, 1942, op. 1927, 
United States 4£s, 1928, . 
United States 4Js, 1928, . 
United States 41s, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4}s, 1938, op-. 1933, 
United States 4fs, 1923, op. 1922, 
United States Federal Land Bank 4$s, 1939, 
United States Federal Land Bank 4£s, 1939, 
United States War Savings Stamps (issue of 1918), 

State, County and Municipal Bonds. 

Alberta 5s, 1926 

Boston, Mass., tax exempt 4s, 1923, . 
Boston, Mass., tax exempt 4|s, 1922, 
Cambridge, Mass., tax exempt 4s, 1922, 
Cambridge, Mass., tax exempt 3^8, 1946, 
Dallas, Tex., 5s, 1936, 
Edmonton, Alberta, 6s, 1921, . 
Gloucester, Mass., tax exempt 4s, 1921, 
Gloucester, Mass., tax exempt 4s, 1922-23, 
Gloucester, Mass., tax exempt 4s, 1924-26, 
Gloucester, Mass., tax exempt 4s, 1927, 
Georgetown, Mass., tax exempt 4s, 1923, 
King County, Wash., tax exempt 5s, 1933, op. 1930, 
Lakewood, O., 5s, 1933, 
Los Angeles, Cal., 4-|s, 1930, 
Lowell, Mass., tax exempt 4s, 1923, 
Massachusetts tax exempt 4s, 1921, 
Massachusetts 3*s, 1943, . 
Massachusetts 5s, 1921, 



Book Value. 
75 00 

5,000 00 

1,030 00 



00 
00 
00 
00 
25 



4,900 

9,625 

4,850 

4,975 

4,856 

5,000 00 

5,000 00 

4,775 

8,000 

4,330 

9,080 
45,000 

9,390 
20,000 

1,010 

4,045 
834 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



4,612 
1,010 
1,025 
2,029 

4.232 
4,739 



50 
00 
30 
60 
00 
00 



4,900 00 



7,236 4S 



1,015 
3,109 
5.153 
4,871 
3,07^ 
10,193 00 
8,633 00 
5,000 00 



50 
50 
50 
50 
80 



Rate. 
70 

100 
55 

100 
100 

87 
102 

93 
100 
100 

95 + 
100 

88 

90 + 
100 

93 + 
100 

93 

93 



93 

99 

100 

99 

85 

100 

100 

100 

99 

98 

97 

98 

100 

101 

96 

99 

100 

S4 

100 



Market Value. 
$3,500 00 

5,000 00 
605 00 

5,000 00 
10,000 00 

4,350 00 

5,100 

4,650 

5,000 

5,000 

4,775 

8,000 00 

4.400 00 

9,08 
45,000 00 

9,390 00 

20,000 00 

930 00 

3,720 00 
894 00 



00 
00 
00 
00 
00 



4,650 00 
990 00 

1,000 

1,980 

4.250 

5,000 

5,000 

1,000 

1,1 B0 

2,940 
970 
9S0 

3,000 00 

5,050 00 

4.S00 00 

2,970 00 
10,000 00 

8,400 00 

5,000 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



UNITED MUTUAL FIRE INSURANCE CO. 



115 



Marblehead, Mass., tax exempt 4s, 1921, 
Newton, Mass., 31s, 1922, 
Newburyport, Mass., 3£s, 1928, 
Oklahoma City, Okla., 5s, 1936, 
Oakland County, Mich., 5is, 1927, . 
Oregon 4s, 1927, .... 
Portland, Ore., 5s, 1938, . 
Swampscott, Mass., 31s, 1928, . 
San Francisco, Cal., 41s, 1930, . 
Taunton, Mass., 4s, 1937, 
Toronto, Ont., harbor comm'rs 4*s, 1953, 
Vermont 4Js, 1931, .... 
Victoria, B. C, 4s, 1923, . 
Worcester, Mass., tax exempt 4s, 1930, 

Railroad Bonds. 
Chicago Jet. & Union Stk. Yds. 5s, 1940, . 
Chicago, Milwaukee & St. Paul 41s, 2014, . 
Interborough Rapid Transit 7s, 1921, 
Inter borough Rapid Transit 5s, 1966, 
Intermountain Railway, Lt. & Pwr. 6s, 1937, 
Jackson Public Service 5s, 1934, 
Louisville & Nashville 7s, 1930, 
Maine Central 5s, 1935, . 
Minneapolis, St. Paul & S. Ste. M. 4s, 1938, 
New York Central equip. 7s, 1935, 
New York Central & Hudson River 4s, 1942, 
Oregon & California 5s, 1927, 
Pennsylvania gen. 5s, 1968, 
Port Wentworth Terminal 8s, 1950, 
Southern Pacific conv. 4s, 1929, 
Southern Pacific (San Fran. Term.) 4s, 1950, 
Union Pacific 6s, 1928, 
Virginian 5s, 1962, . 

Miscellaneous Bonds. 
Acadia Sugar Refining 7s, 1922, 
Allied Packers, Inc., conv. 6s, 1939, 
American Tel. & Tel. 4s, 1929, . 
American Tel. & Tel. 6s, 1924, . 
Brooklyn Corporation 6s, 1949, 
Buffalo General Electric 1st ref. 5s, 1939, 
Cleveland Electric Illuminating 5s, 1939, 
Duquesne Light 1st & coll. trust 6s, 1949, 
Fore River Ship Building 5s, 1923-24, 
Fayette County Utilities 6s, 1936, 
Hydraulic Power, Niagara Falls, 5s, 1951, 
Indiana Power & Water 6s, 1936, 
Louisville Gas & Electric 7s, 1923, 
Maiden & Melrose Gas Light 6s, 1924 
Mid-Continental Utilities 6s, 1937, 
Minneapolis Gas Light 5s, 1930, 
Nowata County Gas 6s, 1922, . 
Nowata County Gas 6s, 1924, . 
Northwestern Electric & Water Works 6s, 1937, 
New York Tel. & Tel. 6s, 1949, 
Niagara, Lockport & Ontario Power 6s, 1958, 
Nevada-California Electric 6s, 1946, 
Peoples Gas Light & Coke 5s, 1947, 
Sidney Electric 6s, 1935, . 
San Antonio Water Supply 5s, 1933, 
Tri City Gas 6s, 1927-28, 
United Iron Works, Inc., 1st 7s, 1936, 
Utah Gas & Coke 5s, 1936, 
West Pennsylvania Power 6s, 1958, 
Washington Coast Utilities 6s, 1922, 



00 
50 
34 
50 
00 
00 
00 
50 
00 



Book Value. 

$2,076 60 

972 00 

4,640 

5,087 

5,123 

4,812 

4,660 

9,216 

4,874 

4,668 

3,900 

4,977 00 

4,612 50 
10,755 00 

6,930 00 
7,106 25 
985 00 
8,875 00 
4,675 00 
4,712 50 
5,000 
4,675 
4,650 
4,987 
3,800 
5,087 
4,962 
5,000 00 
4,400 00 
1,589 00 
4,900 00 
4,950 00 



00 
00 
00 
50 
00 
50 
50 



00 
00 
00 
50 
00 
50 
00 



5,000 
4,475 
5,535 
8,932 
4,675 
4,932 
2,700 
4,250 00 
10,146 00 
1,860 00 
4,450 00 
3,760 00 
4,900 00 
2,895 00 
4,700 
5,000 
473 
1,828 
4,750 
5,050 
1,880 
4,800 
5,100 
4,750 
4,675 
4,700 00 
5,000 00 
4,620 00 
4,900 00 
950 00 

$516,763 42 



00 
00 
75 
55 
00 
00 
00 
00 
00 
00 
00 



Rate. 

100 
98 
92 
96 

102 
95 

101 
94 
97 
91 
75 
99 
95 
97 



67 
79 
62 
90 
94 

104 
87 
85 

105 
78 
93 
94 

100 
83 
76 

102 



98 
80 
81 
97 
85 
86 
87 
95 
95 
88 
87 
88 
99 
9.8 
90 
60 
97 
96 
85 
96 
85 
87 
74 
90 
85 
94 
95 
72 
91 
95 



Market Value. 
$2,000 00 
980 00 
4,600 
4,800 
5,100 
4,750 
5,050 00 
9,400 00 
4,850 00 
4,550 
3,750 
4,950 
4,750 



00 
00 
00 
00 



00 
00 
00 
00 



9,700 00 



6,160 
6,700 
790 
5,580 
4,500 
4,700 
5,200 
4,350 
4,250 
5,250 
3,900 00 
4,650 00 
4,700 00 
5,000 00 
4,150 00 
1,520 00 
5,100 00 
4,400 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



4,900 
4,000 
4,860 
8,730 
4,250 
4,300 
2,610 
4,750 
9,500 
1,760 
4,350 
3,520 
4,950 
2,940 
4,500 
3,000 

485 
1,920 
4,250 
4,800 
1,700 
4,350 
3,700 
4,500 
4,250 
4,700 
4,750 
3,600 
4,550 

950 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



$495,909 00 



116 



WEST NEWBURY MUTUAL FIRE INSURANCE CO. 



WEST NEWBURY MUTUAL FIRE INSURANCE COMPANY, 

WEST NEWBURY. 

Incorporated March, 1828. Commenced business April, 1828. 
GEORGE G. CARR, President. DANIEL COOXEY, Secretary. 

[Note. — This company relies upon assessments on deposit notes to pay losses and expenses.] 

Income. 



Assessments, ...... 

Policy fees, ....... 

Borrowed money, ...... 

Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, ....... 

Disbursements. 

Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, 

Collection fees, 

Salaries and fees of directors, officers and clerks, 

Rents, .... 

State taxes on assessments, 

Postage, telegraph, telephone, 

Printing and stationery, 

Borrowed money repaid, 

Interest on borrowed money, 

All other disbursements, 

Total disbursements, 

Balance, 



Ledger Assets. 
Deposits in trust companies and banks not on interest, 



exchange and express, 



Furniture and safe, 
Gross assets, . 

Furniture and safe, 
Admitted assets, 

Borrowed money, . 



Non-Ledger Assets. 



Assets not admitted. 



$734 97 

376 00 

9,200 00 



$10,310 97 
279 22 



$10,590 


19 


$5,460 41 


26 47 


25 


76 


813 


50 


2 


00 


56 


32 


26 


10 


100 00 


3,600 00 


305 86 


1 


10 



Liabilities. 



810,417 52 
$172 67 

$172 67 

75 00 
S247 67 

75 00 
$172 67 

$6,400 00 



WORCESTER MANUFACTURERS MUTUAL INSURANCE CO. 



117 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 



Risks and Premiums. 



Risks. Deposit Notes. 

$1,730,070 00 $139,630 15 
481,113 00 36,372 57 



$2,211,183 00 $176,002 72 
380,067 00 28,375 91 



$1,831,116 00 $147,626 81 



Miscellaneous. 



Net losses paid since 1879, .... 
Assessments laid during the year on deposit notes, 



$114,606 70 
734 97 



WORCESTER MANUFACTURERS' MUTUAL INSURANCE 
COMPANY, WORCESTER. 

Incorporated March 31, 1855. Commenced business March 31, 1855. 
WALDO E. BUCK, President. WALTER A. HARRINGTON, Secretary. 

Office, 17 Federal Street. 



Income. 
Net fire premiums, ..... 

Gross interest on stocks and bonds, $64,298.10; bank deposits 

$13,220.12; all other, $25.07, 
Canadian exchange, ..... 
Refund of federal tax, ..... 

Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements . 

Net amount paid policy holders for fire losses, . 
Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Inspection department, for inspections, maps, plans and adjust 
ment of losses, ...... 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Total disbursements, .... 

Balance, ...... 



$1,742,548 27 

77,543 29 

825 00 

46 43 



$1,820,962 99 
1,850,573 55 


$3,671,536 54 


$62,899 88 

31,160 84 

1,436 86 

2,329 50 


27,996 37 
3,378 69 
7,035 56 


548 98 


521 93 


1,592 14 

1,324,129 81 

1,539 80 


$1,464,570 36 



$2,206,966 18 



118 



WORCESTER MANUFACTURERS MUTUAL INSURAJJCE CO. 



Ledger Assets. 
Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Premiums in course of collection, 

Total ledger assets, .... 



SI, 674,219 15 
35 
450,241 00 

82,470 47 

82,206,966 18 



Xon-Ledger Assets. 
Interest accrued on bonds, $18,393.80; other assets, $2,250, 

Gross assets, ........ 



20,643 80 
$2,227,609 98 



Assets not admitted. 

Premiums over three months due, . . . $809 40 
Book value of stocks and bonds over market 

value, . . . . . . . 128,945 41 

Discount on Canadian bank deposits, . . 2,810 15 



Admitted assets, 



132,564 96 
$2,095,045 02 



Liabilities. 

Unpaid losses,- ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 

Surplus to policy holders, . . . . 

Total liabilities, including surplus, 



».438 41 

1,052,493 54 

171 61 

7,339 89 

SI. 079.443 45 
1,015,601 57 

$2,095,045 02 



Fire risks : 
In force Dec. 31, 1919, 
Written during the year, 

Total, 
Expired and terminated, 

In force at end of year, 



Risks and Premiums. 

Risks. Cash Prem's. 

. $241,325,355 00 $1,721,826 44 
. 256,015,570 00 1,847,003 07 



Conting't Prem's. 

$8,609,132 20 
9,235,015 35 



$497,340,925 00 
212,692,193 00 



$3,568,829 51 Si7.s44.147 55 
1,538,907 45 7,694,537 25 



$284,648,732 00 $2,029,922 06 $10,149,610 30 



Miscellaneous. ' 
Net premiums received from organization of company, . $21,777,808 67 

Net losses paid from organization of company, . . . 2,455,596 10 

Cash dividends paid policy holders from organization of company, 16,926,043 77 
Dividends to policy holders during 1920: 94, 87, 79 and 74 per 

cent. 
Losses incurred during the vear: wind storms and tornadoes, 

$1,692; sprinkler leakage, $6,308.17. 



WORCESTER MANUFACTURERS MUTUAL INSURANCE CO. 



119 



Schedule A. Stocks and Bonds 

Railroad Stocks. 
52 shares Norwich & Worcester, preferred, 
120 " Southern Pacific, . 
100 " Union Pacific, preferred, . 

Miscellaneous Stocks. 
200 shares Northwestern Telegraph, . 

Government Bonds. 
United States 4is, 1942, op. 1927, 
United States 4Js, 1928, . 
United States 4Js, 1928, . 
United States 4|s, 1938, op. 1933, 
United States 4|s, 1923, op. 1922, 
United States 4fs, 1923, op. 1922, 
United States certificates of indebt. 5is, 1921, 
United States certificates of indebt. 6s, 1921, 

State and Municipal Bonds. 
Massachusetts 3§s, 1943, .... 
New York, N. Y., 4s, 1958, 

New York 4s, 1961, 

Railroad Bonds. 
Atchison, Topeka & Santa Fe gen. 4s, 1995, 
Boston & Albany terminal 3|s, 1951, 
Boston & Albany imp. 4s, 1934, 
Boston & Lowell 3§s, 1923, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4^s, 1944, 
Boston & Maine 4s, 1926, 
Boston & Maine 6s, 1930, 
Central of New Jersey 5s, 1987, 
Chesapeake & Ohio 4|s, 1992, 
Chicago, Burlington & Quincy 4s, 1958, 
Chicago, Burlington & Quincy 3§s, 1949, 
Chicago, Indiana & Southern 4s, 1956, 
Chicago Jet. & Union Stk. Yds. 5s, 1940, 
Chicago & Northwestern 4s, 1987, 
Chicago, Rock Is. & Pacific 1st and ref. 4s, 1934 
Delaware & Hudson 4s, 1943, 
Erie (Pennsylvania coll.) 4s, 1951, 
Kansas City Terminal 4s, I960, 
Lake Shore & Michigan Southern 4s, 1928, 
Lake Shore & Michigan Southern 4s, 1931, 
Minneapolis, St. Paul & S. Ste. Marie 4s, 1938, 
New London Northern 4s, 1940, 
New York Central Lines equip. 4^s, 1923, . 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
North. Pacific prior lien and land grant 4s, 1997 
Ogdensburg & Lake Champlain 4s, 1948, 
Old Colony 4s, 1924, 
Oregon Railroad & Navigation 4s, 1946, 
Oregon Short Line 5s, 1946, 
Oregon Short Line 4s, 1929, 

Ore. -Washington R.R. & Nav. 1st & ref. 4s, 1961 
Pennsylvania Co. 4|s, 1921, 
Pittsburgh, Cin., Chic. & St. Louis 4§s, 1942, 
Providence & Worcester 4s, 1947, 
Richmond-Washington 4s, 1943, 
Rio Grande Western 4s, 1939, . 
Southern Pacific conv. 4s, 1929, 
Toronto, Hamilton & Buffalo 4s, 1946, 
Union Pacific 4s, 1947, .... 
Wisconsin Central 4s, 1949, 

Miscellaneous Bonds. 
American Agricultural Chemical 5s, 1928, . 
American Telephone & Telegraph 4s, 1929, 
Massachusetts Gas 4|s, 1929, 
New York Telephone 1st gen. 4|s, 1939, 



OWNED BY THE COMPANY. 

Book Value. Rate. Market Value. 

$10,700 00 96 $4,992 00 

12,755 00 104 12,480 00 

7,670 00 70 7,000 00 



12,487 50 

80,000 00 

50,000 00 

140,246 74 

200,000 00 

100,000 00 

195,490 00 

50,000 00 

50,000 00 

4,447 50 
20,000 00 
30,000 00 



00 
00 
00 
00 
00 
00 
00 
00 



00 
25 
50 
00 
00 



15,000 
15,000 
19,800 
20,000 
20,000 
20,000 

9,800 
20,500 
10,000 00 
15,000 00 
35,000 
14,456 

9,487 
25,000 
19,500 

9,062 50 
19,950 00 

9,400 00 
14,662 50 
20,000 00 

8,750 00 
14,250 00 
24,812 50 
19,763 
23,531 
22,937 
10,000 
15,000 
10,000 

5,000 
19,475 
13,961 
25,000 
10,000 00 
50,000 00 
10,000 00 
10,000 00 

9,888 75 

4,887 50 

5,000 00 

9,200 00 

8,955 00 

18,962 50 

9,703 75 

9,725 00 

$1,674,219 15 



66 
25 
50 
00 
00 
00 
00 
00 
25 
00 



8,800 00 



100 
100 

93 + 
100 
100 

97 + 
100 
100 

84 
91 
98 

81 

68 

84 

85 

77 

64 

78 

75 
103 

78 

83 

78 

76 

88 

81 

70 

84 

79 

77 

88 

87 

85 

74 

96 

97 

81 

60 

93 

81 

94 

84 

76 
100 

91 

76 

81 

69 

83 

71 

85 

75 

96 
81 
90 

84 



80,000 00 

50,000 00 
140,246 
200,000 
100,000 
195,490 

50,000 

50,000 



74 
00 
00 
00 
00 
00 



4,200 00 
18,200 00 
29,400 00 

12,150 00 

10,200 00 

16,800 00 

17,000 00 

15,400 00 

12,800 00 
7,800 

15,375 

10,300 

11,700 

29,050 

11,700 
7,600 

22,000 

16,200 
7,000 

16,800 
7,900 

11,550 

17,600 
8,700 

12,750 

18,500 

19,200 

24,250 

20,250 
6,000 00 

13,950 00 
8,100 00 
4,700 00 

16,800- 00 

11,400 00 

25,000 00 
9,100 00 

38,000 00 
8,100 00 
6,900 00 
8,300 00 
3,550 00 
4,250 00 
7,500 00 



00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



8,640 00 

16,200 00 

9,000 00 

8,400 00 

$1,545,273 74 



120 



WORCESTER MUTUAL FIRE INSURANCE CO. 



WORCESTER MUTUAL FIRE INSURANCE COMPANY, WORCESTER. 

Incorporated Feb. 11, 1823. Commenced business May 1, 1824. 
WILLIS E. SIBLEY, President. HARRY HARRISON, Secretary. 

Office, 377 Main Street. 



Income. 

Net fire premiums, ........ 

Gross interest on mortgages, $14,771.93; bonds, $26,065.43; 
bank deposits, $1,035.95; gross rents, including $4,000 for 
company's own occupancy, $18,670.81, .... 

Gross profit on maturity of bonds, ...... 

Gross increase in book value of ledger assets, . 

Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks. 
Rents, including $4,000 for company's own occupancy, 
Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express. 

Advertising, subscriptions, printing and stationery, 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to policy holders, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 

Mortgage loans on real estate, 

Book value of bonds (Schedule A), . 

Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 



$188 



60,544 12 

100 00 

87,17^ 75 





$336,150 53 


. 


1,139,419 40 


. 


$1,475,569 93 




$41,221 57 


. . 


807 30 




28,342 41 


. 


249 48 




2,282 24 




20,523 64 


y, 


4.541 13 


. 


1,305 07 


. . 


886 75 


associations 


1,523 84 


. 


74 54 


. 


2,363 57 




1,109 18 


. 


3,632 72 


. 


3,062 02 




7,473 38 


• 


64,702 75 


• 


$184,101 59 


• 


$1,291,468 34 




S277,800 00 




261,190 00 




694,250 00 




901 40 




41,436 21 




15,890 73 



$1,291,468 34 



WORCESTER MUTUAL FIRE INSURANCE CO. 



121 



Non-Ledger Assets. 

Interest due and accrued on mortgages, $3,858.54; bonds, 
$8,892.06; other assets, $61.63; rents accrued on company's 
property, $700, . . . . . 

Gross assets, ......... 



$13,512 23 
,304,980 57 



Assets not admitted. 

Agents' balances over three months due, . 
Overdue and accrued interest on bonds in de- 



$98 35 



fault, ... ... 

Book value of bonds over market value, . 


243 75 
125,741 25 


126,083 35 


Admitted assets, ..... 


• 




$1,178,897 22 


Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Dividends due policy holders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Return premiums, ..... 






$2,840 34 

341,097 63 

2,594 77 

610 41 

1,977 00 

1,140 34 


Total, 

Surplus to policy holders, .... 






$350,260 49 
828,636 73 


Total liabilities, including surplus, 


• 




$1,178,897 22 


Risks and Premiums. 






r 1T*P risks * Risks 

In force Dec. 31, 1919, . . $41,528,201 00 
Written during the year, . 15,151,155 00 


Cash Prem's. 

$601,528 57 
203,201 20 

$804,729 77 
148,037 90 


Conting't Prem's. 

$601,528 57 
203,201 20 


Total, .... $56,679,356 00 
Expired and terminated, . 11,018,845 00 


$804,729 77 
148,037 90 


In force at end of year, . . $45,660,511 00 
Deduct reinsurance in recog- 
nized companies, . . 511,597 00 


$656,691 87 

6,538 39 

$650,153 48 


$656,691 87 


Net amount in force, . $45,148,914 00 


- 


Miscellaneous. 








Net premiums received since 1875, ...... 

Net losses paid since 1875, ....... 

Cash dividends paid policy holders since 1875, .... 

Dividends to policy holders during 1920: 20, 40 and 60 per cent. 


$5,955,943 21 
1,735,801 94 
3,227,523 22 


Schedule A. Bonds owned by 


the Company. 




Government Bonds. Book Value. 
United States 4Js, 1942, op. 1927, . . . $50,000 00 

United States 41s, 1928, 25,000 00 

United States 41s, 1938, op. 1933, . . . 25,000 00 
United States 41s, 1938, op. 1933, . . . 75,000 00 
United States 4fs, 1923, op. 1922, . . . 25,000 00 


Hate. Market Value. 
100 $50,000 00 
100 25,000 00 
100 , 25,000 00 
88+ 66,208 75 
100 25,000 00 



122 



WORCESTER MUTUAL FIRE INSURANCE CO. 



State and Municipal Bonds. 
Massachusetts 3§s, 1945, . 
Massachusetts 3 Is, 1934, . 
New York, N. Y., 4*8, 1960, . 
New York, N. Y., 4£s, 1957, . 
Railroad Bonds. 
Bangor & Aroostook cons. ref. 4s, 1951, 
Boston & Albany terminal 3|s, 1951, 
Boston & Albany imp. 4s, 1933-34, 
Boston & Albany imp. 4s, 1935, 
Boston Elevated 1st 4|s, 1937, 
Boston Elevated 1st 4s, 1935, 
Boston & Lowell 1st 3£s, 1921, 
Boston & Maine 6s, 1930, 
Boston & Maine 4|s, 1944, 
Boston & Maine imp. 4s, 1937, 
Boston & Maine ref. 4s, 1926, 
Boston & Worcester Street 1st 4 Is, 1923, 
Central Pacific (Through Short Line) 1st 4s, 1954, 
Chicago, Burl. & Quincy (111. Div.) 1st 3|s, 1949, 
Chicago, Milw. & St. Paul 1st and gen. 4s, 1989, 
Chicago & Northwestern gen. 4s, 1987, 
Chicago, Rock Is. & Pacific gen. 4s, 1988, 
Chicago, Rock Is. & Pacific 1st ref. 4s, 1934, 
Chicago & Western Indiana cons. 4s, 1952, 
Cincinnati, Hamilton & Dayton gen. 5s, 1942, 
Cin., Indiana, St. Louis & Chicago 1st 4s, 1936, 
Delaware & Hudson 1st ref. 4s, 1943, 
Eastern Massachusetts Street ref. 4|s, 1948, 
Eastern Massachusetts Street ref. 6s, 1925, 
Fitchburg 1st 4s, 1927, .... 
Illinois Central (St. L. Div. & Term.) 1st 3£s, 1951, 
Illinois Cent. (Louisville Div. & Term.) 3§s, 1953, 
Maine Cent. & European & No. Amer. 1st 4s, 1933, 
Michigan Central 1st 4s, 1940, ... 
Minn., St. Paul & S. Ste. Marie cons. ref. 4s, 1938 
Mohawk & Malone 1st 4s, 1991, 
New York Central & Hudson River 1st 3|s, 1997 
New York, New Haven & Hart. deb. 4s, 1955, 
New York, New Haven & Hart. deb. 4s, 1947, 
New York, New Haven & Hart. deb. 3£s, 1947, 
Pere Marquette 1st 4s, 1956, .. 
St. Paul, Minn. & Manitoba cons. 4s, 1933, 
St. Paul, Minn. & Manitoba cons. 4|s, 1933, 
Toledo, W'alhonding Valley & Ohio 1st 4s, 1942, 
Union Pacific 1st 4s, 1947, 
West End Street deb. 4£s, 1930, 
Worcester Consolidated Street deb. 7s, 1925, 
Worcester, Nashua & Rochester 1st 4s, 1930, 
Worcester, Nashua & Rochester 1st 4s, 1934, 



Book Value. 

$15,000 00 

5,000 00 

5,000 00 

5,000 00 

5,000 00 

5,000 00 

15,000 00 

5,000 00 

10,000 00 

5,000 00 

50,000 00 

10,000 00 

5,000 00 

10,000 00 

10,000 00 

5,000 00 

5,000 00 

15,000 00 

10,000 00 

5,000 00 

10,000 00 

32,000 00 

10,000 00 

12,000 00 

20,000 00 

10,000 00 

5,000 00 

250 00 

25,000 00 

13,000 00 

13,000 00 

7,000 00 

5,000 00 

10,000 00 

9,000 00 

6,000 00 

20,000 00 

10,000 00 

10,000 00 

5,000 00 

3,000 00 

5,000 00 

20,000 00 

10,000 00 

10,000 00 

5,000 00 

5,000 00 

4,000 00 

S694.250 00 



Rate. 

84 

89 

95 

100 

52 

68 
84 
82 
70 
69 
92 
75 
64 
66 
78 
64 
74 
78 
74 
81 
76 
70 
64 
83 
84 
84 
28 
20 
83 
72 
70 
77 
78 
85 
77 
72 
56 
58 
52 
70 
89 
93 
79 
85 
81 
50 
78 
78 



Market Value. 

$12,600 00 
4,450 00 
4,750 00 
5,000 00 

2,600 00 

3,400 00 

12,600 00 

4,100 00 
7,000 00 
3,450 00 

46,000 00 
7,500 00 
3,200 00 
6,600 00 
7,800 00 
3,200 00 
3,700 00 

11,700 00 

7,400 00 

4,050 00 

00 00 

22,400 00 
6,400 00 
9,960 00 
-'K) 00 
8,400 00 
1,400 00 
50 00 

20,750 00 
9,360 00 
. 9,100 00 
5,390 00 
3,900 00 
8,500 00 
6,930 00 
4,320 00 

11,200 
5,800 
5,200 
3,500 
2,670 
■50 

15,800 00 
8,500 00 
8,100 00 
2,500 00 
3,900 00 
3,120 00 

$568,508 75 



00 
00 
00 
00 
00 
00 



BOSTON INSURANCE CO. 



12a 



MASSACHUSETTS JOINT-STOCK FIRE, MARINE AND 
FIRE-MARINE INSURANCE COMPANIES. 



BOSTON INSURANCE COMPANY, BOSTON. 

Incorporated Dec. 23, 1873. Commenced business Jan. 20, 1874. 

Paid-up Capital, $1,000,000. 

WILLIAM R. HEDGE, President. FREEMAN NICKERSON, Secretary. 

Office, 87 Kilby Street. 



Income. 

Net fire premiums, $4,967,110.02; marine, $3,328,680.61, . 
Gross interest on mortgages, $15,282.50; stocks and bonds, 

8449,164.46; bank deposits, $21,973.50; all other, $1,038.73; 

gross rents, including $33,000 for company's own occupancy, 

$33,740.04, .... 

Agents' balances previously charged off, 
Gross profit on sale or maturity of stocks and bonds, 
Profit from home office agency, 
From all other sources, . 



Total income, 
Ledger assets, Dec. 31, 1919, . 

Total, . 

Disbursements. 

Net amount paid policy holders for fire losses, $2,144,495.07 

marine, $1,968,159.93, 
Loss adjustment expenses, 
Agents' compensation, including brokerage, 
Agents' allowances, .... 

Field supervisory expenses, 

Salaries and fees of directors, officers and clerks, 

Rents, including $33,000 for company's own occupancy, 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery, . 
Agents' balances charged off, ...... 

Repairs and expenses on real estate, .... 

Taxes on real estate, ....... 

Dividends to stockholders, ...... 



$8,295,790 63'- 



521,199 23 

1,384 79 

2,300 69 

22,451 52 

595 71 

$8,843,722 57 
12,158,635 17 



$21,002,357 74 



54,112,655 00 

74,916 97 

1,675,758 73 

12,107 88 

145,084 99 

616,142 36 

53,976 95 

11,221 90 

9,636 24 

157,514 72 

178,149 81 

212,823 94 

39,920 85 

4,061 06 

90,829 36 

6,980 77 

12,647 63 

12,050 00 

280,000 00 



124 



BOSTON INSURANCE CO. 



Gross loss on sale or maturity of stocks and bonds, . 
Gross decrease in book value of real estate, 
Interest on prepayment of marine premiums, . 
Profit and loss, ....... 

Total disbursements, ..... 

Balance, ....... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, .... 

Bills receivable, .... 

Deposits with fire boards, 
Reinsurance recoverable on paid losses, 
Notes receivable, .... 

Total ledger assets, 



2,563 91 

4,350 00 

4,49.'; ns 
400 00 

17,718,288 95 

$13,284,068 79 



$479,250 00 

5.900 00 
9,742,708 

4,953 10 

16,310 55 

793,154 30 

1,516,609 58 

145,822 39 

3.450 00 

340,695 11 

1,215 11 



813,264,068 79 



Nox-Ledger Assets. 
Interest due and accrued on mortgages, $1,476.50; bonds, 

$72,654.08; other assets, $692.79, 

Market value of stocks and bonds over book value, . 



Gross assets, 



74,823 37 
376,421 75 

813,735,313 91 



Assets not .admitted. 

Agents' balances over three months due, . 
Bills receivable, past due, taken for premiums, 
Reinsurance recoverable on paid losses, 
Mortgage loan in excess of appraisal, 
Deposits with fire boards, 
Notes receivable, . 

Admitted assets, .... 



$87,871 45 

9,543 69 

27,125 31 

1,000 00 

3,450 00 

1,215 11 



130,205 56 
813,605,108 35 



Liabilities. 
Unpaid losses, including $39,768.52 resisted, $4,114,659.12; les; 

recognized reinsurance, $1,228,414.08, . 
Unearned premiums on outstanding risks, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 
Reserve for undetermined reinsurance on marine risks, 
Interest paid in advance, 

Total, . 
Cash capital, 

Surplus over all liabilities, 
Surplus to policy holders, 



Total liabilities, including surplus, 



$1,000,000 00 
3,484.924 57 



$2,886,245 04 

5,795,178 37 

140,000 00 

26,102 00 

189,491 00 

32,100 00 

50.000 00 

1,067 37 

$9,120,183 7> 



4,484,924 57 



$13,605,108 35 



BOSTON INSURANCE CO. 



125 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized 
panies, 

Net amount in force, 

Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized 
panies, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$1,076,365,982 00 
1,056,747,693 00 



com- 



com 



$2,133,113,675 00 
828,933,932 00 

$1,304,179,743 00 
408,717,780 00 



Premiums. 

$10,166,802 51 
9,410,349 18 

$19,577,151 69 
7,621,989 49 

$11,955,162 20 
3,536,683 93 



$895,461,963 00 $8,418,478 27 



$2,748,646 39 
5,571,921 23 



>,199,528 00 
513,513,621 00 

$599,713,149 00 
477,252,591 00 

$122,460,558 00 
14,895,650 00 



$8,320,567 62 

5,487,100 17 

$2,833,467 45 

558,112 50 



$107,564,908 00 $2,275,354 95 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Dividends declared during the year (28 per cent), 

Par value of company's stock owned by directors, 

Net premiums written during the year: motor vehicles, 

$1,098,796.41; tourists' baggage, $13,170.54; registered mail, 

$16,943.22; wind storms and tornadoes, $119,213.47; hail, 

$106.84; sprinkler leakage, $11,261.14; explosion, $1,283.33. 

Losses incurred during the year: motor vehicles, $465,962.77; 

tourists' baggage, $3,124.12; registered mail, $8,352.07; wind 

storms and tornadoes, $28,029.96; hail, 0; sprinkler leakage, 

$3,448.87; explosion, $117.57. 



$98,556,342 92 

55,664,154 61 

6,550,000 00 

280,000 00 

118,200 00 



Schedule A. Stocks and Bonds owned by the Company. 





Railroad Stocks. 




Book Value. 


Rate. 


Market Value. 


750 shares Boston & Maine, 1st pref., class A, . 


$36,735 75 


50 


$37,500 00 


100 ' 


Northern Pacific, . 


... 


13,812 50 


91 


9,100 00 


500 ' 


' Old Colony, . 


. 


88,569 41 


93 


46,500 00 


745 « 


Pennsylvania, 




33,998 87 


91 


33,897 50 


450 ' 


1 Southern Pacific, . 




53,735 06 


104 


46,800 00 


200 « 


1 Union Pacific, 

Bank Stocks. 


. 


30,490 25 


130 


26,000 00 


3,000 shares First National, Boston, . 


601,923 00 


310 


930,000 00 


100 • 


' Merchants National, 


Salem, 


6,822 75 


180 


9,000 00 


200 « 


1 Merchants National, 


Worcester, 


35,000 00 \ 
1,000 00 / 




45,400 00 


200 " Merch. Securities Corp., Worcester, 


227 


17 National Grand, Marblehead, . 


2,040 00 


120 


2,040 00 



126 



BOSTON INSURANCE CO. 



450 shares National Shawmut, Boston, 

15 " New England Trust, Boston, . 
100 " State Street Trust, Boston, 
154 " Webster & Atlas National, Boston, 

Miscellaneous Stocks. 
Ana Finance, 

American Agricultural Chemical, 
American Sugar Refining, 
Booth Manufacturing, 
Boston Ch. of Com. R.E. Tr., 2d pfd. 
Factory Insur. Assoc. Building, 
General Adjustment Bureau, . 
General Electric, 
General Electric, 
New England Investment, 
Old Colony Insurance, 
Reinsur. Clear'g House Realty Corp 
Underwriters' Map, 
Underwriters' Salvage, New York, 
Western Union Telegraph, 



313 shares 
250 " 
500 " 
224 " 

3 " 
120 " 

1 share 
257 shares 
510 rights 
100 shares 
"9,385 
50 

8 

10 

420 

Government Bonds 
Canada 5s, 1926, 
Canada 5s, 1931, 
Canada 5s, 1937, 
Canada 5§s, 1929, . 
Canada 5is, 1933-34, 
Norway 8s, 1940, 
Swiss Confederation 8s, 1940, 
United King, of Gt. Britain & Ireland 5|s, 1937 
United States certificates of indebt. 5fs, 1921, 
United States 3fs, 1947, op. 1932, 
United States 4£s, 1947, op. 1932, 
United States 41s, 1942, op. 1927, 
United States 4|s, 1942, op. 1927, 
United States 41s, 1928, . 
United States 41s, 1928, . 
United States 41s, 1938, op. 1933, 
United States 41s, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 
United States War Savings Stamps (issue of 1918) 

Municipal Bonds. 
Lawrence, Mass., 55s, 1921, 
Victoria, B. C, 4|s, 1923, 

Railroad Bonds. 
Atchison, Topeka & Santa _Fe gen. 4s, 1995, 
Baltimore & Ohio equip. 4^s, 1922, 
Baltimore & Ohio equip. 4§s, 1924, 
Baltimore & Ohio equip. 4^s, 1925, 
Baltimore & Ohio equip. 4§s, 1926, 
Boston Elevated 5s, 1942, 
Boston & Albanv 5s, 1963, 
Boston & Lowell 4s, 1932, 
Boston & Maine 4$s, 1929, 
Canadian Pacific 6s, 1924, 
Chesapeake & Ohio equip. 4|s, 1923, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago & Northwestern gen. 3§s, 19b. . 
Fitchburg 4s, 1925. .... 
Fitchburg 4s, 1927, .... 
Fitchburg 4|s, 1928, 

Lake Shore & Michigan Southern 3|s, 1997, 
Maine Central 1st and ref. 5s, 1935, . 
New York Central 1st and ref. 3£s, 1997, 
New York Central ref. and imp. 4^s, 2013, 
New York, New Haven & Hartford 4s, 1956, 
North. Pacific prior lien ry. and land gr. 4s, 1997, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Pennsylvania cons. 1st 4§s, 1960, 
Union Pacific 1st R.R. and land grant 4s, 1947, 
West End Street 4s, 1932, 



Book Value. 

$48,390 61 

6,000 00 

23,000 00 

21,108 50 

31,300 00 

25,728 75 

67,492 50 

27,790 00 

285 00 

12,000 00 

50 00 

31,526 86 

10,000 00 

1,975,388 30 

5,000 00 

1 00 

1,000 00 

31,416 25 

9,700 00 

48,750 00 

1,900 00 

184,300 

133,481 

12,468 

13,357 

50,750 

200,000 

213,900 

85,460 

352,750 

432,660 

131,700 

235,390 

501,450 00 

2,333,686 60 

7,100 00 

842 00 

25,000 00 
23,875 00 

73,568 57 
14.461 50 
945 
3,748 
12,077 
28,875 
10.400 00 
25,500 00 
36,062 50 
50,875 00 
38,339 50 
63,171 
16,240 
51,125 
10,687 
53,312 
68,975 
41,793 
67,125 
63,856 
30,000 
80,308 
95,975 
92,125 
S4.090 00 
25,000 00 



00 
25 
75 

50 
00 
00 
00 
00 
00 
00 
00 
00 



60 
00 
00 
00 



25 
00 
00 
50 
50 
00 
75 
00 
25 
00 
75 
00 
00 



Rate. 
266 
400 
238 
225 

100 

90 
123 
140 

95 

100 

100 

155 

4 

91 
210§ 
100 
100 
150 

90 

94 

94 

96 

97 
100 
101 
104 

93 
100 
100 

86 
100 

96 4- 
100 

94 + 
100 

93 4- 
100 



100 
90 

81 
98 
95 
94 
93 
76 
89 
77 
79 
98 
97 
85 
71 
86 
83 
81 
73 
87 
72 

56 
81 
97 
94 
85 
75 



Market Value. 

SI 19,700 00 

6,000 00 

23,800 00 

34,650 00 

31,300 00 

22,500 00 

(.1,500 00 

31,360 00 

285 00 

12,000 00 

50 00 

39,835 00 

2,040 00 

9,100 00 

1,975,542 

5,000 

800 

1,500 



50 
00 
00 
00 



37,800 00 



00 
00 
00 
00 



9,400 00 
47,000 00 

1,920 

184,300 

150,000 

12,625 

13,520 00 

46,500 00 

200,000 00 

213,900 00 

86,000 00 

352,750 00 

432,660 00 

134,700 00 

235,390 00 

501,450 00 

2,333,686 60 

7,100 00 

894 00 

25,000 00 
24,000 00 

81,000 00 

14,700 00 

950 00 

3.760 00 
12,090 00 
33,440 00 

8,900 00 
19,250 00 
39,500 
49,000 
38,800 
65,450 
17,750 
43,000 

8,300 
40,500 
73,000 
39,150 
72.000 
69,700 00 
33,600 00 
81,000 00 
97,000 00 
94,000 00 
85,000 00 
1>,750 00 



00 

00 
00 
00 
00 
00 
00 
00 
00 
00 
00 



MASSACHUSETTS FIRE AND MARINE INSURANCE CO. 



127 



Miscellaneous Bonds. 
American Telephone & Telegraph 6s, 1925, 
Aroostook Construction 7£s, 1921, 
Atlantic Mutual Insurance Co. scrip 6s, 1925, 
Bethlehem Steel 7s, 1923, 
Detroit Edison 1st 5s, 1933, 
Greelock Co. coll. trust conv. 7s, 1925, 
Mallory Steamship 5s, 1932, 
United Drug 8s, 1921, 
United States Steel 5s, 1963, 
Western Union Telegraph 5s, 1938, 



Book Value. 


Rate. 


Market Value. 


$68,212 50 


100 


$70,000 00 


20,000 00 


99 


19,800 00 


1,260 00 


98 


1,234 80 


24,187 50 


100 


25,000 00 


25,535 00 


94 


24,440 00 


24,750 00 


95 


23,750 00 


96,250 00 


82 


82,000 00 


25,000 00 


100 


25,000 00 


72,468 27 


98 


72,520 00 


23,281 25 


88 


22,000 00 


$9,742,708 65 


$10,119,130 40 



MASSACHUSETTS FIRE AND MARINE INSURANCE COMPANY, 

BOSTON. 

Incorporated March 3, 1910. Commenced business June 18, 1910. 

Paid-up Capital, §500,000. 
C. G. SMITH, President. WALTER ADLARD, Secretary. 

Office, 93 Water Street. 



Income. 
Net fire prerniums, $76,524.21; marine, $172,689.07, . 
Gross interest on collaterals, $1,059.99; stocks and bonds, 

$69,616.99; bank deposits, $3,133.32; all other, $8.10, 
Agents' balances previously charged off, . 
Gross profit on sale of stocks, 
Michigan surcharge previously charged off, 
Commission on reinsurance, . 
From all other sources, .... 

Total income, .... 

Ledger assets, Dec. 31, 1919, . 

Total, 



$249,213 28 

73,818 40 

518 73 

1,490 11 

150 61 

106,875 65 

75 00 



$432,141 78 
1,917,458 06 

$2,349,599 84 



Disbursements. 
Net amount paid policy holders for fire losses, $319,058.07 

marine, $404,270.36, 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Advertising, subscriptions, printing and stationery, . 
Dividends to stockholders, . . . . 



$723,328 43 

18,705 96 

39,050 58 

2,126 01 

12,000 23 

57,314 03 

5,366 37 

2,703 23 

2,314 74 

19,849 78 

11,862 25 

34,020 72 

1,975 49 

19,983 62 

30,000 00 



128 MASSACHUSETTS FIRE AND MARINE INSURANCE CO. 

Gross loss on sale of stocks and bonds, ..... \027 40 

Gross decrease in book value of stocks, ..... 51 78 



Total disbursements, SI, 038,080 62 



Balance, $1,310,919 22 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), . . . .$1,071,37198 

Cash in office, 4,lr,_ 

Deposits in trust companies and banks on interest, . . 113,436 99 
Agents' balances, 121,947 51 



Total ledger assets, $1,310,919 22 

Xon-Ledger Assets. 
Interest accrued on bonds, ....... 8,386 74 

Reinsurance recoverable on paid losses, . . . . . 14,809 18 



Gross assets, $1,334,115 14 

Assets not admitted. 

Agents' balances over three months due, . . $433 73 

Book value of stocks and bonds over market 
value, 51,235 98 51,669 71 



Admitted assets, $1,282,445 43 

Liabilities. 

Unpaid losses, $382,550.98; less recognized reinsurance, $87,796.82, 8294,754 16 

Salaries, expenses and accounts due or accrued, . . . 19,583 63 

Federal, state and other taxes due or accrued, .... 50,000 00 

Contingent commissions or other charges due or accrued, . . 3,775 06 



Total, $368,112 85 

Cash capital, $500,000 00 

Surplus over all liabilities, .... 414,332 58 

Surplus to policy holders, .... 914,332 5S 



Total liabilities, including surplus, ..... $1,282,445 43 

Risks and Premiums. 

Fire risks: Risks. Premiums. 

In force Dec. 31, 1919, .... 8123.649,21500 81,264,64419 
Written during the year, . . . 102,535,242 00 1,016.097 67 



Total, 8226,184,457 00 $2,280,741 86 

Expired and terminated, . . . 89,197,078 00 893,627 17 



In force at end of year, . . . . $136,987,379 00 81,387,114 69 
Deduct reinsurance in recognized com- 
panies, 136,987,379 00 1,387,114 69 



MASSACHUSETTS FIRE AND MARINE INSURANCE CO. 



129 



Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . m . 
Expired and terminated, 

In force at end of j^ear, . 
Deduct reinsurance in recoj 
panies, 



nized 



COin- 



Risks. 

$28,416,273 00 
86,633,912 00 

$115,050,185 00 
100,765,980 00 

$14,284,205 00 

14,284,205 00 



Premiums. 

$765,501 18 
639,072 43 

$1,404,573 61 
1,099,599 61 

$304,974 00 

304,974 00 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company 
Dividends declared during the j^ear (6 per cent), 
Par value of company's stock owned by directors, 
Net premiums written during the vear: motor vehicles 

$121,149.68; tourists' baggage, $387.48; registered mail 

$218.23. 
Losses incurred during the year: motor vehicles, $168,378.85 

tourists' baggage, $2,526; registered mail, $384.19. 



58,398,591 67 

4,931,872 54 

180,000 00 

30,000 00 

4,600 00 



Schedule A. Stocks and Bonds owned by the Company. 

Railroad Stocks. 

62 shares Old Colony, .... 

Bank Stocks. 

23 shares American Trust, Boston, . 
300 " First National, Boston, 

50 " Merchants National, Boston, 
100 " Mei chants National, Worcester, 
126 " Merchants Secur. Corp., Worcester, 
175 " Old Colony Trust, Boston, 

20 " Stoughton Trust, 

Miscellaneous Stocks. 
110 shares American Telephone & Telegraph, 
102 " Boston Wharf, 

80 " Brockton Gas Light, 

37 " Cambridge Gas Light, 
100 " Edison Elec. Illuminating, Boston, 
1 share General Adjustment Bureau, 

50 shares Lynn Gas & Electric, 
200 " Mackay Companies, pref., 

63 " New Bedford Gas & Edison Light, 
140 " New England Tel. & Tel., 

65 " Springfield Gas Light, 

8 " Underwi iters' Map, . 

10 " Underwriters' Salvage, New York, 

1 share Western Adjust. & Inspection, . 

200 shares Western Union Telegraph, 

57 " Worcester Electric Light, 

100 " Worcester Gas Light, 

Government Bonds. 
Canada 5s, 1921, 
Canada notes, 5^s, 1921, . 
United States 4s, 1925, 
United States 3|s, 1947, op. 1932, 
United States 4Js, 1942, op. 1927, 
United States 4£s, 1928, . 
United States 41s, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

State and Municipal Bonds. 
Boston, Mass., tax exempt 4s, 1922, . 
Boston, Mass., tax exempt 3^s, 1939, 



Book Value. 


Rate. 


Market Value. 


$11,594 99 


93 


$5,766 00 


6,148 


00 


352 


8,096 00 


30,000 


00 


310 


93,000 00 


15,270 


00 


277 


13,850 00 


16,966 
625 


66 \ 
00 / 


227 


22,700 00 


44,841 


25 


260 


45,500 00 


2,400 


00 


126 


2,520 00 


14,086 


95 


103 


11,330 00 


11,409 


00 


82 


8,364 00 


10,882 


90 


74 


5,920 00 


10,168 


77 


146 


5,402 00 


27,327 


50 


165 


16,500 00 


50 


00 


100 


50 00 


20,845 


00 


332 


16,600 00 


13,400 


00 


62 


12,400 00 


17,357 


25 


168 


10,584 00 


18,866 


49 


100 


14,000 00 


17,462 


47 


153 


9,945 00 


800 


00 


100 


800 00 


950 


00 


150 


1,500 00 


200 


00 


200 


200 00 


16,115 


00 


90 


18,000 00 


14,824 


60 


227 


12,939 00 


28,823 


00 


106 


10,600 00 


9,992 


00 


100 


10,000 00 


24,831 


25 


100 


25,000 00 


10,515 


00 


106 


10,600 00 


10,000 


00 


100 


10,000 00 


20,900 


00 


100 


20,900 00 


20,000 


00 


100 


20,000 00 


50,000 


00 


100 


50,000 00 


15,000 


00 


100 


15,000 00 


30,132 


00 


99 


29,700 00 


72,137 


50 


90 


67,500 00 



130 



NEW ENGLAND FIRE INSURANCE CO. 



Boston, Mass., tax exempt 35s, 1949, 
Greenfield, Mass., F. D. No. 1, tax ex. 4s, 1921, . 
Greenfield, Mass., F. D. No. 1, tax ex. 4s, 1922-24, 
Greenfield, Mass., F. D. No. 1, tax ex. 4s, 1925-28, 
Greenfield, Mass., F. D. No. 1, tax ex. 4s, 1929-30, 
Holyoke, Mass., tax exempt 4s, 1933, 
Holyoke, Mass., tax exempt 4s, 1934-35, 
Massachusetts tax exempt 31s, 1922, 
Massachusetts tax exempt 4s, 1926, 
Massachusetts tax exempt 3|s, 1928, 
Massachusetts tax exempt 3s, 1936, 
Massachusetts tax exempt 3^s, 1937, . 
Massachusetts tax exempt 35s, 1946-48, 
Massachusetts tax exempt 3s, 1949, . 
Methuen, Mass., tax exempt 4s, 1924, 
Methuen, Mass., tax exempt 4s, 1925-27, 
New Bedford, Mass., tax exempt 4s, 1924, 
New Bedford, Mass., tax exempt 4s, 1925, . 
North Attleborough, Mass., tax exempt 4s, 1937, 
North Attleborough, Mass., tax exempt 4s, 1939, 
Paris, France, 6s, 1921, 
Wayland, Mass., tax exempt 4s, 1921, 
Wayland, Mass., tax exempt 4s, 1922-24, . 
Wayland, Mass., tax exempt 4s, 1925, 

Railroad Bonds. 
Boston Terminal 35s, 1947, 
Chesapeake & Ohio 5s, 1946, 
Detroit Terminal & Tunnel 1st 4§s, 1961, . 
Ore.-Washington R.R. & Nav. 1st and ref. 4s, 1961, 
Seattle Electric 1st 5s, 1930, 

Miscellaneous Bonds. 
American Telephone & Telegraph 4s, 1929, 
American Telephone & Telegraph 5s, 1946, 
Bellows Falls Power 5s, 1922.. . 
Detroit Edison 1st and ref. 5s, 1940, . 
New England Telephone & Telegraph 5s, 1932, 
Homestead Association notes, 6s, 1922, 
United States Smelt., Refin. & Min. notes, 6s, 1926, 



SO 
30 
20 

(.0 
50 



Book Value. 
S47.800 00 

3,016 20 

9,109 50 
12,274 

6,183 

4,105 

13,370 

998 

8,000 00 
12,910 30 

3,644 80 
10,930 70 
19,742 40 
21,902 50 

1,009 
10,126 
12,123 

9,110 

8,228 

8,247 

7,966 

1,508 

3,039 

1,019 



20 
30 
60 
70 
80 
20 
40 
70 
00 
80 



29,973 00 

24,355 00 

20,000 00 

18,630 00 

9,981 00 

9,359 00 

7,882 40 

9,500 00 

25,222 50 

25,000 00 

24,830 00 

15,348 00 

$1,071,371 98 



Rate. 

100 
09 
98 

«)7 

97 
99 
98 
95 
80 
92 
89 
so 
99 
98 
99 
98 
96 
95 
97 
100 
99 
98 

75 
86 
81 
76 
89 

81 
86 
95 
87 
89 
97 
102 



00 
00 
00 
(JO 
00 



Market Value. 

$44,000 00 

3,000 

8,910 

11,700 

80 
12,610 00 

!.'J0 00 

7340 00 

12,350 00 

i0 00 

10,120 00 

17.S00 00 

20,000 00 

990 00 

0.^00 00 

11,8*0 00 
8,820 00 
7,680 00 
7,600 00 
7,700 00 
1,500 00 
2,970 00 
980 00 

22,500 00 

21,500 00 

16,200 00 

15,200 00 

8,900 00 

8,100 00 
6,880 00 
9,500 00 
21,750 00 
22,250 00 
24.250 00 
15,300 .00 

$1,020,136 00 



NEW ENGLAND FIRE INSURANCE COMPANY, PITTSFIELD. 

Incorporated Nov. 14, 1919. Commenced business Jan. 7, 1920. 

Paid-up Capital, $200,000. 

H. CALVIN FORD, President. CARL B. GALE, Secretary. 

Office, 116 North Street. 

Income. 

Net fire premiums, $399,874 63 

Gross interest on stocks and bonds, $25,006.19; bank deposit s 

$3,057.60, 28,063 79 

Gross profit on sale or maturity of stocks and bonds, . . 11,901 55 

Profit on account of syndicate participation, .... 742 26 

Surplus paid in, 300,000 00 

Total income, $740,582 23 

Capital paid in, 200,000 00 



Total, 



$940,582 23 



NEW ENGLAND FIRE INSURANCE CO. 



131 



Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, . . . . . 

Furniture and fixtures, ..... 

Federal taxes, . . . 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to stockholders, .... 

Gross loss on sale of bonds, .... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Total ledger assets, .... 







$74,983 76 






918 66 






133,682 43 






2,468 55 






10,985 31 






739 66 






1,190 08 






2,664 99 






1,774 50 






955 98 






377 10 






2,071 98 






6,000 00 






645 00 






118 08 




$239,576 08 




$701,006 15 


. $472,997 28 


1,312 50 


178,200 50 


. 


48,495 87 


$701,006 15 



Non-Ledger Assets. 



Interest accrued on bonds, 
Gross assets, . 



3,488 86 



$704,495 01 



Assets not admitted. 

Book value of stocks and bonds over market 
value, ....... 

Discount on Canadian bank deposits, 

Admitted assets, ..... 



$15,642 28 
150 85 



15,793 13 

$688,701 88 



Liabilities. 
Unpaid losses, ...... 

Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Interest paid in advance, . . . . 

Total, 

Cash capital, ...... 

Surplus over all liabilities, . . . . 

Surplus to policy holders, . 

Total liabilities, including surplus, 



$200,000 00 
230,429 41 



$31,824 68 

223,557 79 

2,500 00 

390 00 

$258,272 47 



430,429 41 

$688,701 88 



132 



NEW ENGLAND FIRE INSURANCE CO. 



Risks and Premiums. 

Fire risks: Risks. Premiums. 

Written during the year 858,432,995 00 £473,408 99 

Excess premiums on account of reinsurance, . - 129,631 03 



Total, . 
Expired and terminated, 

In force at end of year, . 



158,432,995 00 8603,040 02 
20,223,680 00 194,352 92 



$38,209,315 00 $408,687 10 



Miscellaneous. 
Xet premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Dividends declared during the year (3 per cent), 
Par value of company's stock owned by directors, 



$399,874 63 

74,983 7-. 

6,000 00 

6,000 00 

85,600 00 



Schedule A. Stocks and Bonds owned by the Company. 



Bank Stocks. 

100 shares International Trust, Boston, 
Miscellaneous Stocks. 
75 shares Berkshire Cotton Mills, 
50 " Butler Mills 

200 " Central Aguirre Sugar, 

100 " Central Mass. Light & Power, pref., 

100 " Central Mass. Light & Power, com., 
50 " Corona Typewriter, 2d pref., 

100 " Farr Alpaca, 

100 " Wilson & Co., New York, . 

Government Bonds. 
United States 4£s, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

Municipal Bo?ids. 
Quincy, Mass., 4)8, 1921, . 
Quincy, Mass., 4s, 1921, . 

Miscellaneous Bonds. 
Aluminum Co. of America 7s, 1925, 
Atlantic Fruit 7s, 1934, 
Cuba Cane Sugar 7s, 1930," 
Diamond Match 7?s, 1935, 
Electrical Development 1st 5s, 1933, 
B. F. Goodrich Co. conv. 7s, 1925. 
Massachusetts Oil Refining conv. 7s, 1924, 
Sears, Roebuck & Co. 7s, 1921, . 
Sears, Roebuck & Co. 7s, 1922, . 
Sears, Roebuck & Co. 7s, 1923, . 
Sinclair Consolidated Oil 7*s, 1925, 
Solvav & Cie 8s, 1927, 
Swift & Co. 7s, 1925, 
United States Rubber 7^s, 1930, 
Wilson & Co. conv. Cs, 1928, . 



Book Value. 
$32,700 00 

16,725 00 

11.250 00 

24,585 00 

9,000 00 

2,500 00 

4,900 00 

25,500 00 

7*,865 00 

68,665 00 
98,060 00 

6,869 10 
7,810 80 

14.550 00 

9,650 00 

9,900 00 

5,985 00 

20,372 50 

14.512 50 

14,368 75 

2,913 31 

2,895 16 

8,657 66 

13,762 50 

9,950 00 

9,700 00 

9,800 00 

9.550 00 



Rate. 
332 

190 
200 
392 

80 ' 

50 
100 
225 

65 

91 + 

98 + 

100 
100 

96 

90 

96 
100 

86 

91 

94 
100 

97 

96 

92 
100 

98 

99 

92 



Market Value. 
$33,200 00 

14.2.50 00 

10,000 00 

15,680 00 

8,000 00 

5,000 00 

5,000 00 

<K) 00 

6,500 00 

68,665 00 
,0 00 

7.000 00 
8,000 00 

14.400 00 
9,000 00 
9,600 00 
6,000 00 

21.500 00 

13,650 

14.100 
3,000 
2.910 
8.640 00 

13,800 00 

10,000 00 
9,800 00 
9,900 00 
9.200 00 



00 
00 
00 
00 



$472,997 28 



$457,355 00 



THE OLD BAY STATE INSURANCE CO. 



133 



THE OLD BAY STATE INSURANCE COMPANY, CONCORD. 

Incorporated Feb. 26, 1919. Commenced business June 1, 1919. 

Paid-up Capital, $200,000. 

PRESCOTT KEYES, President. CHARLES F. BOWERS, Secretary. 

Income. 
Net fire premiums, ....... 

Gross interest on bonds, $31,084.75; bank deposits, $356.69, 

Total income, ....... 

Ledger assets, Dec. 31, 1919, . ... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, ... ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery ; . 
Dividends to stockholders, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 
Book value of bonds (Schedule A) , . 
Deposits in trust companies and banks on interest, . 
Agents' balances, ........ 

Total ledger assets, ...... 

Non-Ledger Assets. 
Interest due and accrued on bonds, .... 

Reinsurance recoverable on paid losses, .... 

Gross assets, ........ 

Liabilities. 
Unpaid losses, $74,420; less recognized reinsurance, $14,620.55, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 

Total, 



. $577,402 03 


31,441 44 


. $608,843 47 


744,504 11 


. $1,353,347 58 


. $170,567 78 


2,572 36 


184,526 15 


167 95 


4,610 38 


320 00 


s, 5 75 


4,788 08 


2,321 98 


39 88 


10 50 


186 80 


44,000 00 


. $414,117 61 


. $939,229 97 


. $901,837 48 


-760 69 


38,153 18 


. $939,229 97 


9,781 73 


5,220 43 


. $954,232 13 


, $59,799 45 


343,273 22 


78 23 


5,000 00 


. $408,150 90 



134 



OLD COLONY IXSl'KAXCE CO. 



Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



sl>(,0,000 00 
340,081 23 



Fire risks: 
In force Dec. 31, 1919, .... 
Written during the year, 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct reinsurance in recognized companies, 

Net amount in force, 



Risks and Premiums. 

Risks. 

$31,694,455 00 
130,840,842 00 



1546,081 23 

§954,232 13 



Premiums. 

$297,570 69 

1,089,180 24 
13,931 34 



$162,535,297 00 $1,400,682 27 
79,706,225 00 621,155 41 



$82,829,072 00 $779,526 86 
19,396,137 00 177,661 02 



$63,432,935 00 $601,865 84 



Miscellaneous. 
Xet premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Dividends declared during the year (22 per cent), 
Par value of company's stock owned by directors, 



Schedule A. Bonds owned by the Company. 



1752,792 63 

183,633 46 
56,000 00 
44,000 00 
32,300 00 



Government Bonds. 
United States 3£s, 1947, op. 1932, 
United States 41s, 1947, op. 1932, 
United States 4Js, 1942, op. 1927, 
United States 4 is, 1928, . 
United States 4£s, 1938, op. 1933, 



Book Value. 
$38,027 04 
6,348 81 
157,973 20 
391,217 63 
308,270 80 

$901,837 48 



Rate. 
98 + 
94 + 

94 + 

95 + 
89 + 



Market Value. 
$38,027 04 
6,348 81 
157,973 20 
391,217 63 
308,270 80 

$901,837 48 



OLD COLONY INSURANCE COMPANY, BOSTON. 

Incorporated June 2, 1906. Commenced business June 7, 1906. 

Paid-up Capital, $1,000,000. 

WILLIAM R. HEDGE, President. JOHN P. MORGAN, Secretary. 

Office, 87 Kilby Street. 

Income. 

Net fire premiums, $1,274,909.84; marine, $535,685.34, . . §1,810,595 18 
Gross interest on mortgages, $873.25; stocks and bonds, 

$167,072.05; bank deposits, $2,898.25; all other, §292.93, . 171,136 48 
Agents' balances previously charged off, ..... 230 90 

Canadian exchange, ........ 1,699 35 



Total income, 
Ledger assets, Dec. 31, 1919, 



81,983,661 91 
3.777,453 25 



Total, 



85,761,115 16 



OLD COLONY INSURANCE CO. 



135 



Disbursements. 

Net amount paid policy holders for fire losses, $579,530.11; 
marine, $316,661.16, ....... 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, . . . . . . 

Advertising, subscriptions, printing and stationery, . 
Agents' balances charged off, ...... 

Dividends to stockholders, ...... 

Gross loss on sale or maturity of stocks and bonds, . 

Total disbursements, ...... 

Balance, ........ 



$896,191 27 

15,553 75 

428,075 25 

6,720 25 

20,959 96 

63,653 25 

1,908 17 

1,168 72 

956 14 

31,914 34 

19,061 10 

49,309 48 

3,779 17 

113 57 

27,710 09 

651 24 

80,000 00 

199 48 

$1,647,925 23 

$4,113,189 93 



Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks and bonds (Schedule A), . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Deposits with fire boards, ..... 

Reinsurance recoverable on paid losses, . 

Total ledger assets, ..... 



$16,000 00 

3,623,176 25 

33,479 64 

4,350 11 

153,466 83 

260,168 49 

3,080 25 

200 00 

19,268 36 

14,113,189 93 



Non-Ledger Assets. 
Interest accrued on mortgages, $89.37; bonds, $30,999.90, 

Gross assets, ...... 



Assets not admitted. 

Agents' balances over three months due, . 
Bills receivable, past due, taken for premiums, . 
Book value of stocks and bonds over market 
value, ....... 

Deposits with fire boards, .... 

Reinsurance recoverable on paid losses, . 
Discount on Canadian bank deposits, 



31,089 27 



Admitted assets, 



. 


$4,144,279 20 


r. 

$4,576 20 




555 00 




23,524 25 




200 00 




1,791 02 




504 17 


31,150 64 


• • • 


$4,113,128 56 



136 



OLD COLONY INSURANCE CO. 



Liabilities. 
Unpaid losses, including $7,492.39 resisted, $713,690.16; 

recognized reinsurance, $134,571.25, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 
Interest paid in advance, ..... 



less 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$1,000,000 00 
1,133,957 73 



$679,11 ■ 
1,346,054 33 
66 55 

42,184 12 

8,000 00 

146 92 

81,979,170 83 



2,133,957 73 
$4,113,1:.' 



Fire risks: 
In force Dec. 31, 1919, .... 
Written during the year, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct reinsurance in recognized companies, 

Net amount in force, 

Marine risks: 
In force Dec. 31, 1919, .... 
Written during the year, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct reinsurance in recognized companies, 



Risks and Premiums. 

Risks. 

8251,563,140 00 
259,078,392 00 



8510,641,532 00 

196,404,627 00 

8314,236,905 00 

83,829,887 00 



Premiums. 

82,410,659 37 
2,397,406 61 

$4,808,065 98 
1,817,487 34 

$2,990,578 64 
900,877 41 



8230,407,018 00 82,089,701 23 



817,430,246 00 
79,476,543 00 

896,906,789 00 
75,137,901 00 

821,768,888 00 
6,852,920 00 



$581,364 20 

1,087,413 15 

$1,668,777 35 

1,100,559 19 

S,218 16 

198,780 62 



Net amount in force, 



814,915,968 00 S369,437 54 



Miscellaneous. 



Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Dividends declared during the year (8 per cent), 
Par value of company's stock owned by directors, 
Net premiums written during the year: motor vehicles 
$210,239.57; tourists' baggage, $1,426.30; registered mail 
$1.06; wind storms and tornadoes, $25,196.84; hail, —$327.78 
sprinkler leakage, $1,888.25; explosion, $97.34. 
Losses incurred during the year: motor vehicles, $145,908.19, 
tourists' baggage, $571.25; registered mail, 0; wind storms 
and tornadoes, $7,200.22; hail, 0; sprinkler leakage, $295.01 
explosion, 0. . 



$11,947,660 7^ 

5,965,200 64 

336,000 00 

80,000 00 

25,100 00 



OLD COLONY INSURANCE CO. 



137 



Schedule A. Stocks and Bonds owned by the Company. 



Railroad Stocks. 
100 shares Boston & Albany, 

75 " Boston Elevated, preferred, 
100 " Boston & Providence, 
200 " Canadian Pacific, 
300 " Old Colony, . 
155 " Pennsylvania, . 

Bank Stocks. 
700 shares First National, Boston, 
200 " Merchants National, Worcester, 
200 " Merchants Secur. Corp., Worcester, 
150 " National Shawmut, Boston, 

Miscellaneous Stocks. 
100 shares American Agricultural Chemical, 
200 " American Sugar Refining, . 
440 " Edison Electric Illuminating, 
1 share General Adjustment Bureau, 
100 shares Pullman Co., . 
500 " Standard Oil, N. J., preferred, 
280 " Western Union Telegraph, 

Government Bonds. 
Canada 5s, 1926, ...... 

Canada 5|s, 1929, 

Canada 5s, 1931, ...... 

Canada 5§s, 1934, 

United King, of Gt. Britain & Ireland 5|s f 1929, 

United King, of Gt. Britain & Ireland 5£s, 1937, 

United States 3§s, 1947, op. 1932, 

United States 41s, 1942, op. 1927, 

United States 41s, 1942, op. 1927, 

United States 41s, 1928, . 

United States 41s, 1928, . 

United States 41s, 1938, op. 1933, 

United States 41s, 1938, op. 1933, 

United States 4|s, 1923, op. 1922, 

United States certificates of indebt. 5|s, 1921, 

United States certificates of indebt. 6s, 1921, 

Municipal Bonds. 
Lawrence, Mass., note, 5£s, 1921, 
Seattle, Wash., 4£s, 1927, 
Victoria, B. C, deb. 4£s, 1924, . 

Railroad Bonds. 
Canadian Pacific 6s, 1924, 
Central Pacific 1st ref. 4s, 1949, 
Chesapeake & Ohio conv. 5s, 1946, 
Chicago, Burl. & Quincy (111. Div.) 4s, 1949, 
Chicago, Milwaukee & St. Paul gen. 4s, 1989, 
Chicago & Northwestern gen. 3^s, 1987, 
Chicago Union Station 1st 4^s, 1963, . 
Illinois Central equip. 7s, 1931, 
Michigan Central deb. 4s, 1929, 
New York Central & Hudson River gen. 3£s, 1997 
New York, New Haven & Hart. deb. 3|s, 1954, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Old Colony 4s, 1924, 
Old Colony 4s, 1938, 
Oregon Short Line ref. 4s, 1929, 
Pennsylvania gen. 4|s, 1965, 
Southern Pacific conv. 4s, 1929, 
Union Pacific 1st R.R. and land grant 4s, 1947, 

Miscellaneous Bonds. 
Ameiican Telephone & Telegraph conv. 6s, 1925, 
Detroit Edison Co. 1st 5s, 1933, 
United States Steel 5s, 1963, .... 
Western Union Tel. ref. and real estate 4|s, 1950, 



Book Value. 
$18,126 51 

7,500 00 
21,152 
29,765 
51,261 

8,465 



50 
00 
53 
71 



161,054 75 

35,800 00 

1,000 00 

32,863 53 

10,312 50 

24.932 50 
110,536 75 

50 00 
16,200 00 
56,000 00 

20.933 75 

9,700 00 

33,950 00 

34,331 25 

48,250 00 

72,093 75 

25,375 00 

40,000 00 

210,000 00 

302,460 00 

50,000 00 

23,375 00 

150,000 

1,313,089 

80,000 

75,000 

25,000 



00 
50 
00 
00 
00 



25,000 00 

2,958 75 

22,812 50 

28,700 00 
12,843 75 
23,406 25 
20,187 50 

4,318 75 
16,256 25 
25,175 00 
26,163 75 

8,700 
11,550 
21,000 
23,843 
24,437 
23,612 
23,413 75 
14,681 25 
21,485 12 
33,752 50 

34,125 00 

4,800 00 

47,216 60 

24,156 25 

!,623,176 25 



00 
00 
00 
75 
50 
50 



Rate. 
137 

91 
149 
140 

93 

91 

310 
227 
266 

90 
123 
165 
100 
122 
110 

90 

94 

97 

94 
100 

93 

93 
100 
100 

94 + 
100 

93 + 
100 

93 + 
100 
100 
100 

100 
97 
94 

98 
78 
86 
85 
74 
71 
85 
104 
82 
72 
50 
97 
93 
80 
84 
88 
83 
85 

100 
94 
98 

84 



Market Value. 

$13,700 00 

6,825 00 

14,900 00 

28,000 00 

27,900 00 

7,052 50 

217,000 00 
45,400 00 
39,900 00 

9,000 00 
24,600 00 
72,600 00 
50 00 
12,200 00 
55,000 00 
25,200 00 

9,400 00 

33,950 00 

32,900 00 

50,000 00 

69,750 00 

23,250 00 

40,000 00 

210,000 00 

302,460 00 

50,000 00 

23,375 

150,000 

1,313,089 

80,000 

75,000 00 

25,000 00 



00 
00 
50 
00 



25,000 00 

2,910 00 

23,500 00 

28,420 00 
11,700 00 
21,500 00 
21,250 

3,700 
17,750 
21,250 
26,000 00 

8,200 00 
10,800 00 
25,000 00 
24,250 00 
23,250 00 
20,000 00 
21,000 00 
13,200 00 
20,750 00 
34,000 00 



00 
00 
00 
00 



35,000 00 

4,700 00 

48,020 00 

21,000 00 

$3,599,652 00 



138 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



SPRINGFIELD FIRE AND MARINE INSURANCE COMPANY, 

SPRINGFIELD. 



Incorporated 1849. Commenced business 1851. 
Paid-up Capital, $2,500,000. 



A. W. DAMON, President. 



Office, 195 State Street. 



E. H. HILDRETH, Secretary. 



Income. 

Net fire premiums, $12,273,166.77; marine, $1,345,669.25, 813,618,836 02 

Gross interest on mortgages, $134,837.16; stocks and bonds, 
$559,626.63; bank deposits, $71,068.99; all other, $200; gr 
rents for company's own occupancy, $24,000, . . . 789,732 78 
Agents' balances previously charged off, ..... 995 04 

Gross profit on sale of stocks, ...... 735 52 



Total income, 
Ledger assets, Dec. 31, 1919, 

Total, . 



S14,410,299 36 
. 17,413,114 09 

S3 1,823,413 45 



Disbursements. 



Net amount paid policy holders for fire losses, $4,867,871.08; 

marine, $443,599.33, .... 

Loss adjustment expenses, 

Agents' compensation, including brokerage, 

Agents' allowances, .... 

Field supervisory expenses, 
Salaries and fees of directors, officers and clerks, 
Rents, including $24,000 for company's own occupancy, 
Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to stockholders, .... 

Gross decrease in book value of ledger assets, . 

New England Investment & Security Co., certificate of interest 

charged off, ..... 
All other disbursements, 



$5,311,470 41 

88,166 26 

2,757,370 58 

87,403 50 

571,572 86 

723,210 10 

62,885 02 

19,317 14 

16,587 97 

233,153 14 

425,685 65 

342,227 64 

45,372 60 

1,168 29 

193,905 09 

1,584 27 

5,637 67 

10,270 40 

400,000 00 

3,864 43 



9,135 
3,584 



00 
54 



Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 
Mortgage loans on real estate, 
Book value of stocks and bonds (Schedule A), . 



SI 1.313.572 56 
820,509,840 89 

. 8335,000 00 
. 2.600.770 00 
. 12,558,478 30 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



139 



Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, . . ... 

Total ledger assets, ..... 



$2,000 00 
239,578 25 

. 2,482,822 54 
. 2,291,191 80 

$20,509,840 89 



Non-Ledger Assets. 

Interest accrued on mortgages, $67,741.55; bonds, $102,886.30, 
Reinsurance recoverable on paid losses, . 

Gross assets,* ..... 

Assets not admitted. 
Agents' balances over three months due, . . $108,313 55 



170,627 85 
207,184 22 

$20,887,652 96 



Book value of stocks and bonds over market 
value, ....... 

Admitted assets, ..... 



407,489 30 515,802 85 



$20,371,850 11 



Liabilities. 
Unpaid losses, including $44,444 resisted, $2,236,588.69; less 

recognized reinsurance, $503,792.73, 
Unearned premiums on outstanding risks, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 



Total, 

Cash capital, .... 

Surplus over all liabilities, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 

Risks and Premiums. 



$2,500,000 00 
4,033,422 24 



$1,732,795 96 

11,365,631 91 

200,000 00 

50,000 00 

360,000 00 

130,000 00 

$13,838,427 87 



6,533,422 24 



$20,371,850 11 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, 

Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized com 
panies, ..... 

Net amount in force, 



Risks. Premiums. 

52,003,892,532 00 $20,373,610 31 
2,206,725,730 00 19,886,703 79 



$4,210,618,262 00 $40,260,314 10 
1,586,158,675 00 15,379,231 11 



$2,624,459,587 00 $24,881,082 99 
657,728,991 00 5,170,838 06 



$1,966,730,596 00 $19,710,244 93 



* The company holds also instalment premium notes to the amount of S106.742.81, which do not enter 
into or form any part of the assets of the company, as no portion of them is earned. Whatever value is 
attached to them would necessarily be counterbalanced by the addition of an amount exactly equal to 
the reinsurance liability, the entire sum consisting of "unearned premiums." 



140 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized 
panies, .... 



Net amount in force, 



COm- 



Risks. 

$9 1,409,718 00 
651,672,214 00 

8743,081,932 00 
671,744,825 00 

S7 1,337, 107 00 

2,123,066 00 



Premiums. 

>6,483 93 

1,834,690 01 

$2,391,173 94 

1,236,101 21 

$1,155,072 73 

15,777 50 



$69,214,041 00 $1,139,295 23 



Miscellaneous. 



$162,564,958 77 

. 85,419,297 27 

. 8,729,542 00 

. 2,000,000 00 

400,000 00 

1*2,300 00 



Net premiums received from organization of company, 

Xet losses paid from organization of company, 

Cash dividends declared from organization of company, 

Stock dividends declared from organization of company, 

Dividends declared during the year (16 per cent), 

Par value of company's stock owned by directors, 

Xet premiums written during the year: motor vehicles, 

$592,921.78; tourists' baggage, $11,463.36; registered mail, 

$15,599.39; wind storms and tornadoes, $753,651.38; hail, 

$212,603.65; sprinkler leakage, $59,127.09; explosion, 

$40,912.90. 
Losses incurred during the year: motor vehicles, $325,564.11; 

tourists' baggage, $6,038.20; registered mail, $23,905.22; 

wind storms and tornadoes, $215,394.29; hail, $108,105.15; 

sprinkler leakage, $23,526.24; explosion, $1,410.49. 

Schedule A. Stocks and Bonds owned by the Company. 





Railroad Stocks. 




Book Value. 


Rate. 


Market Value. 


500 shan 


js Atch., Topeka & Santa Fe, com., 


S49.486 25 


91 


S45.500 00 


500 " 


Atch., Topeka & Santa Fe, pref., 


49,330 83 


82 


41,000 00 


1,225 " 


Baltimore & Ohio, common, 


123,265 00 


49 


60,025 00 


120 " 


Baltimore & Ohio, preferred, . 


9,000 00 


56 


6,720 00 


400 " 


Boston & Maine, 1st pref., class D, 


98,800 00 


90 


36,000 00 


860 " 


Canadian Pacific, . 


149,398 38 


140 


120,400 00 


1,000 " 


Chicago, Milw.~& St. Paul, com., 


115,263 31 


48 


48,000 00 


2,000 " 


Chicago, Milw. & St. Paul, pref., 


246,941 88 


70 


140,000 00 


1,375 " 


Chicago & Northwestern, 


175,075 00 


91 


125,125 00 


1,180 " 


Great Northern, preferred, 


139,905 00 


91 


107,380 00 


1,050 " 


Holyoke Street, 


153,770 75 


53 


55,650 00 


1,150 " 


Illinois Central, 


, 


133,806 28 


96 


110,400 00 


1,500 " 


Manhattan, . 




232,262 50 


71 


106,500 00 


1,000 " 


Northern Pacific, . 




135,955 50 


91 


91,000 00 


6,000 " 


Pennsylvania, 




347,436 34 


91 


273.000 00 


1,200 " 


Southern Pacific, . 




119,712 35 


104 


124,800 00 


500 " 


Southern, preferred, 




47,200 00 


68 


34,000 00 


1,000 " 


Union Pacific, 




86,234 40 


130 


130.000 00 


1,050 " 


Worcester Consol. Street, 1st pref., 
Bank Stocks. 


101,412 50 


26 


21,840 00 


45 shares Ameiican Trust, Boston, 


12,000 00 


352 


15,840 00 


150 " 


Boylston National, Boston, 


21,238 00 


129 


19,350 00 


250 " 


Chapin National, Springfield, . 


31,302 50 


150 


37,500 00 


350 " 


Chicopee National, Springfield, 


49,694 00 


225 


7^.750 00 


300 " 


City National, Holyoke, 


33,328 75 


125 


37,500 00 


3,750 " 


First National, Boston, . , 


757,900 00 


310 


1,162,500 00 


99 " 


First National, Northampton, 


14,041 50 


138 


13,662 00 


100 " 


Holyoke National, 


15,800 00 


215 


21.500 00 


150 " 


Merchants National, Boston, . 


20,083 00 


277 


41,550 00 


650 " 


Merchants National, Worcester, 


111,008 33 \ 
3,250 00 J 


227 


147,550 00 


650 " 


Merchants Secur. Corp., 


Worcester 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



141 



300 shares National Bank of Commerce, N. Y 

1,714 " National Shawmut, Boston, 

122 " Northampton National, . 

350 " Old Colony Trust, Boston, 

500 " Second National, Boston, 

200 " Springfield National, 

500 " Third National, Springfield, 

100 " Webster & Atlas National, Boston, 

Miscellaneous Stocks. 

375 shares Afia Finance, 

500 " American Express, 

770 " American Telephone & Telegraph, 

120 " Factory Insur. Assoc. Building, 

610 " Fitchburg Gas & Electric Light, 

5 " General Adjustment Bureau, . 

100 " Holyoke Water Power, . 

40 " Indian Orchard Co., preferred, 

275 " Lynn Gas & Electric, 

1,000 " Massachusetts Gas, preferred, 

1,250 " No. Boston Light. Properties, com 

3,315 " No. Boston Light. Properties, pref 

900 '■ Pullman Company, 

70 " Reinsur. Clear. House Realty Corp 

260 " Salem Gas Light, . 

7 " Southern Adjustment Bureau, 

730 " Springfield Gas Light, . 

20 " Underwriters' Salvage, Chicago, 

20 " Underwriters' Salvage, New York, 

512 " United Electric Light, . 

125 " Wells Fargo & Co., 

Government Bonds. 
Canada 5|s, 1934, . 
Canada 5^s, 1929, . 
Canada 5s, 1926, 

United States 3£s, 1947, op. 1932, 
United States 3£s, 1947, op. 1932, 
United States 4is, 1942, op. 1927, 
United States 4£s, 1942, op. 1927, 
United States 4Js, 1928, . 
United States 4Js, 1928, . 
United States 4Js, 1938, op. 1933, 
United States 4}s, 1938, op. 1933, 
United States 4fs, 1923, op. 1922, 

State, County and Municipal Bonds 
Brantford, Ont., 4|s, 1942, 
Calgary, Alberta, 5s, 1933, 
Cincinnati, O., 6s, 1928, . 
Cleveland, O., 6s, 1928, . 
Columbus, O., 6s, 1955-57, 
Georgia 4js, 1945, 
Hamilton, Ont., 4s, 1932, . 
Hamilton, Ont., 4£s, 1934, 
Massachusetts 3s, 1929, . 
Montreal, Que., Cath. school commis. 4s, 1948, 
Montreal, Que., Prot. school commis. 4s, 1938, 
Omaha, Neb., 5s, 1940, 
Oregon 4£s, 1927-28, 
Ottawa, Ont., 4^s, 1935, . 
Outremont, Que., school 4-2S, 1950, 
Regina, Sask., 5s, 1928, 
Richmond 4s, 1938, . 
Richmond 4s, 1940, . 
Salt Lake City, Utah, 5s, 1939, 
Toronto, Ont., 4£s, 1948, . 
Valencia County, N. M., 5s, 1932, op. 1922 
Victoria, B. C, 4§s, 1938, 
Victoria, B. C, 4s, 1951, . 
Westmount, Que., 4|s, 1955, 
Westmount, Que., 4^s, 1947, 
Winnipeg, Man., 4s, 1925, 



Book Value. 
$48,380 13 
281,525 

22,912 

85,987 
107,945 

39,070 

90,042 50 

13,056 00 



10 
00 
50 
00 
00 



37,500 00 

90,237 50 

92,943 07 

12,000 00 

65,375 10 

250 00 

23,805 00 

4,000 00 

104,624 75 

86,000 00 

386,445 73 

66,160 35 

7,000 00 

48,200 

350 

142,985 

1,000 

1,000 

107,098 00 

11,250 00 



00 
00 
43 
00 
00 



100,000 00 

244,375 00 
24,656 25 
49,275 00 
50,000 00 

100,000 00 
97,430 

200,000 

446,150 

500,000 

429,990 

500,000 



00 
00 
00 
00 
00 
00 



57,420 00 



00 
00 
00 
00 
00 
00 



49,125 

101,880 

101,900 

113,845 
10,435 
11,685 
37,293 20 

151,650 00 
24,421 25 
24,000 00 
49,750 00 
94,088 90 
18,988 00 
50,793 75 
19,728 00 
53,375 00 
4,925 00 
95,350 
26,696 
10,550 
27,876 00 
14,508 75 
14,456 25 
35,262 50 
53,380 50 



00 
25 
00 



Rate. 
245 
266 
215 
260 
320 
274 
260 
225 

100 
134 
103 
100 
146 
100 
407 
100 
332 

66 

13 

81 
122 
100 
113 
100 
153 
100 
150 
196 

66 

100 
97 
94 

98 + 
100 
100 

97 4- 
100 

89 4- 
100 

85 4- 
100 

89 

85 
107 
107 
119 

96 

81 

83 

89 

69 

75 
102 

98 

86 

79 

92 

90 

89 
102 

76 

98 

80 

68 

74 

76 

91 



Market Value. 
$73,500 00 
455,924 00 

26,230 00 

91,000 00 
160,000 00 

54,800 00 
130,000 00 

22,500 00 

37,500 00 

67,000 00 

79,310 00 

12,000 00 

44,530 00 

250 00 

40,700 00 

4,000 00 

91,300 00 

66,000 00 

16,250 00 

268,515 00 

109,800 00 

7,000 00 

29,380 00 

350 

111,690 

2,000 

3,000 

100,352 

8,250 



00 
00 
00 
00 
00 
00 



100,000 00 

242,500 00 

23,500 00 

49,275 00 

50,000 00 

100,000 00 

97,430 00 

200,000 00 

446,150 00 

500,000 00 

429,990 00 

500,000 00 

53,400 00 

42,500 00 

107,000 00 

107,000 00 

119,000 00 

9,600 00 

9,720 00 

31,540 00 

160,200 00 

17,250 00 

18,750 00 

51,000 00 

98,000 00 

17,200 00 

39,500 00 

18,400 00 

45,000 00 

4,450 00 

102,000 00 

20,520 00 

9,800 00 

24,000 00 

10,200 00 

11,100 00 

26,600 00 

50,050 00 



142 



SPRINGFIELD FIRE AND MARINE INSURANCE CO. 



Winnipeg, Man., 4s, 1934, 
Winston, N. C, 4*8, 1940-41, . 

Railroad Bonds. 
Atlantic Coast Line gen. unified 4|s, 1964, . 
Belt R.R. & Stk. Yds. 1st and ref. 4s, 1939, 
Boston & Maine 4|s, 1944, 

Buffalo, Rochester & Pittsburgh cons. 4^8, 1957 
Canada Southern cons. 5s, 1962, 
Canadian Pacific 6s, 1924, 
Central Pacific 1st ref. 4s, 1949, 
Chicago, Burl. & Quincy (111. Div.) 3§s, 1949, 
Chicago Jet. & Union Stk. Yds. coll. trust 5s, 1940 
Chicago, Milw. & St. Paul conv. 4|s, 1932, 
Chic, Milw. & St. Paul conv. gen. & ref. 5s, 2014 
Chicago Union Station 1st 4|s, 1963, 
Kansas City Terminal 1st 4s, 1960, 
Lake Shore & Michigan Southern 4s, 1931, 
Maine Central 1st and ref. 5s, 1935, . 
New York Central & Hudson River deb. 4s, 1934, 
New York, New Haven & Hart. conv. deb. 6s, 1948, 
Norfolk & Western div'l 1st lien & gen. 4s, 1944, 
No. Pac.-Gt. North. (C, B. & Q. coll.) 4s, 1921, 
Peoria 1st and ref. 5s, 1925, 
Pere Marquette 1st 5s, 1956, 
Southern Pacific conv. 4s, 1929, 
Springfield Street ref. and gen. 7s, 1940, 
Terminal Assoc, of St. Louis gen. 4s, 1953, 

Miscellaneous Bonds. 
Adirondack Electric Power 1st 5s, 1962, 
Alabama Power 1st 5s, 1946, 
American Tel. & Tel. coll. trust 5s, 1946, . 
American Writing Paper 1st 7s, 1939, 
Canada Permanent Mortgage S^s, 1925, 
Central Maine Power 5s, 1939, . 
Columbus Power 1st 5s, 1936, . 
Consumers Power 1st lien and ref. 5s, 1936, 
Danv., Champ. & Decatur R. & L. coll. tr. 5s, 1938 
Duquesne Light 1st and coll. trust 6s, 1949, 
Eastern Canada Savings & Loan 5*s, 1925, . 
Elmira Water, Lt. & R.R. 1st cons. 5s, 1956, 
Great Lakes Power 1st 6s, 1930, 
Hydraulic Pwr., Niagara Falls, ref. & imp. 5s, 1951 
Idaho Power 1st 5s, 1947, 
Laurentide Power 1st 5s, 1946, . 
Montana Power 1st and ref. 5s, 1943, 
Montreal Lt., Ht. & Pwr. Is* and coll. tr. 4|s, 1932, 
New Brunswick Power 1st 5s, 1937, . 
Northern States Power 1st and ref. 5s, 1941, 
Pacific Gas & Electric gen. and ret. 5s, 1942, 
Pennsylvania Water & Power 1st 5s, 1940, . 
Philadelphia Electric 1st 5s, 1966, 
Public Seivice of North. Illinois 1st & ref. 5s, 1956 
Sierra & San Francisco Power 1st 5s, 1949, 
Springfield Gas Light notes, 6s, 1922, 
Union Elec. Lt. & Pwr. ref. and ext. 5s, 1933, 
L'tah Power & Light 1st 5s, 1944, 
L'tica Gas & Electric ref. and ext. 5s, 1957, 
Worcester Gas Light 1st 55s, 1939, 



Book Value. 
$4,793 75 
30,080 00 



00 
50 
00 
00 
00 
00 
00 



00 
50 
00 
00 



41,375 00 
80,500 00 

40,37.-, 
41,937 
40,000 
13,760 
39,125 
74,250 
43,250 
45,000 00 
37,500 00 
81,025 00 
37,375 
43,312 
47,125 
41,875 
64,000 00 
41,187 50 
46,562 50 
96,000 00 
41,087 50 
48,345 37 
25,000 00 
35,000 00 

49,875 00 
45,000 00 
49,000 00 
81,331 57 
25,000 00 
43,500 00 
s7.500 00 
89,750 00 
46,250 
49,750 
10,000 
92,000 
48,250 
93,000 
87,500 00 
45,250 00 
88,000 00 
42,875 00 
44,250 00 
93,500 00 
46,500 00 
48,250 00 
45,500 00 
S7.250 00 
46,000 00 
97,750 00 
92,000 00 
48,000 00 
43,500 00 
50,000 00 

$12,558,478 30 



00 
00 
00 
00 
00 
00 



Rate. 
SO 
94 

SI 
82 

01 

91 

98 
78 
78 
88 
77 
79 
85 
77 
-7 
87 
83 
84 
80 
97 
88 

83 
100 

70 

85 
85 
86 
83 
100 
87 
85 
87 
75 
95 
96 
83 
99 
87 
83 
83 
88 
83 
75 
82 
85 
90 
90 
82 
80 
89 
81 
84 
85 
95 



Market Value. 
$4,000 00 
28,200 00 

40,500 00 
82,000 00 
32,000 00 

42,500 00 
45,500 

39,000 
78,000 
44,000 00 
34,650 00 
29,625 
85,000 
38,500 
43,500 
43,500 
41,500 
53,760 00 
40,000 00 
,'X) 00 
88,000 00 
43,000 00 
41,500 00 
25,000 00 
38,000 00 



00 
00 

00 
00 



00 
00 
00 

00 
00 
00 



00 
00 
00 
00 
00 



42,500 00 
42,500 00 
43,000 00 
83,000 00 
25,000 00 
43,500 00 
85,000 
87,000 
37,500 
47,500 
9,600 
83,000 00 
49,500 00 
87,000 00 
83,000 00 
41.500 00 
88,000 00 
41,500 00 
37,500 00 
82,000 00 
42,500 00 
45,000 00 
45,000 00 
82,000 00 
40,000 00 
89,000 00 
81,000 00 
42,000 00 
42.500 00 
47,500 00 

$12,150,989 00 



.ETNA INSURANCE CO. 



143 



FIRE, MARINE AND FIRE-MARINE INSURANCE COMPANIES 

OF OTHER STATES. 



iETNA INSURANCE COMPANY, HARTFORD, CONN. 

Incorporated June, 1819. Commenced business Aug. 17, 1819. 

Paid-up Capital, $5,000,000. 

WM. B. CLARK, President. GUY E. BEARDSLEY, Secretary. 

Home Office, 670 Main Street. 



Income. 

Net fire premiums, $22,161,609.22; marine, $4,784,044.05, 

Deposit premiums on perpetual risks, .... 

Gross interest on collaterals, $168.58; stocks and bonds, 
$1,458,292.74; bank deposits, $57,411.99; all other, $4,069.91; 
gross rents, including $25,000 for company's own occupancy, 
$25,300, 

Agents' balances previously charged off, . 

Gross profit on sale or maturity of bonds, .... 

From all other sources, ........ 



$26,945,653 27 
1,570 14 



Total income, 
Ledger assets, Dec. 31, 1919, 

Total, . . 



1,545,243 22 

268 16 

1,269 61 

80 00 

$28,494,084 40 
. 37,875,129 13 

$66,369,213 53 



Disbursements. 



Net amount paid policy holders for fire losses, $9,028,694.95 

marine, $3,316,249.82, 
Loss adjustment expenses, 
Agents' compensation, including brokerage, 
Agents' allowances, .... 

Field supervisory expenses, 
Salaries and fees of directors, officers and clerks, 
Rents, including $25,000 for company's own occupancy, 
Furniture and fixtures, ...... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Deposit premiums returned, .... 

Repairs and expenses on real estate, 



$12,344,944 77 

192,461 91 

5,539,720 11 

55,829 23 

738,119 33 

1,098,329 59 

109,649 93 

55,012 68 

15,265 33 

, 418,739 20 

849,614 62 

938,085 13 

56,601 17 

4,302 25 

366,319 90 

1,620 41 

8,157 00 

13,517 59 



144 



.ETNA INSURANCE CO. 



Taxes on real estate, ....... 

Dividends to stockholders, ...... 

Gross loss on sale or maturity of stocks and bonds, . 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 
Book value of real estate, ...... 

Loans secured by collateral, ...... 

Book value of stocks, $3,698,218.87; bonds, $28,894,640.64, 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ........ 

Bills receivable, ........ 

Total ledger assets, ...... 



$16,157 50 

. 1,200.000 00 

595,628 63 

5,516 10 

$24,623,592 38 

$41,745,621 15 



27,207 93 

10,982 31 

32,592,859 51 

7,912 81 

15,117 70 

3,842,455 02 

4,544,287 48 

104,798 33 

841,745,621 15 



Non-Ledger Assets. 

Interest due and accrued on bonds, $231,853.58; other 

$1,756.41, 233,609 99 

Reinsurance recoverable on paid losses, ..... 130,038 25 

Salvage recoverable, ........ 71,528 92 



Gross assets,* ..... 

Assets not admitted. 

Agents' balances over three months due, 

Bills receivable, past due, taken for premiums, . 

Excess of bills receivable, not past due, over 
unearned premium, . 

Overdue and accrued interest on bonds in de- 
fault, ....... 

Book value of stocks and bonds over market 
value, ....... 

Book value of real estate over market value, 



s42,180,798 31 



$188,052 42 
26,266 39 

18,052 77 

22,966 04 

949,263 59 

217,207 93 1,421,809 14 



Admitted assets, 



•840,758,989 1' 



Liabilities. 

Unpaid losses, including $111,695.40 resisted, $5,134,294.33; 

less recognized reinsurance, $1,540,314.34, 
Unearned premiums on outstanding risks, 
Reclaimable on perpetual fire' policies, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 



Total, 



83,593,979 99 

21,478,033 64 

89,299 62 

20.000 00 

975,000 00 

30,000 00 

$26,186,313 25 



* The company holds also instalment premium notes to the amount of S95o.047.48, which do not enter 
into or form any part of the assets of the company, as no portion of them is earned. Whatever value is 
attached to them would necessarily be counterbalanced by the addition of an amount exactly equal to 
the reinsurance liability, the entire sum consisting of "unearned premiums.'' 



.ETNA INSURANCE CO. 



145 



Cash capital, $5,000,000 00 

Surplus over all liabilities, .... 9,572,675 92 
Surplus to policy holders, .... 

Total liabilities, including surplus, .... 

Risks and Premiums. 
Fire risks : Risks. 

In force Dec. 31, 1919, .... $3,339,385,777 00 
Written during the year, . . . 3,347,846,083 00 

Excess premiums on account of reinsurance, - 



Total, . 
Expired and terminated, 



56,687,231,860 00 
2,493,367,959 00 



In force at end of year, .... $4,193,863,901 00 
Deduct reinsurance in recognized com- 
panies, 664,057,783 00 



Net amount in force, . . . $3,529,806,118 00 

Perpetual risks in force (not included above), $4,345,398 00 



Marine risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized 
panies, 



Net amount in force, 



com 



$180,109,977 00 
2,148,015,573 00 

$2,328,125,550 00 
2,111,707,815 00 

$216,417,735 00 

57,675,072 00 



$14,572,675 92 
$40,758,989 17 

Premiums. 

$34,530,721 10 
31,797,719 14 
146,223 03 ' 

$66,474,663 27 
24,681,300 65 

$41,793,362 62 

5,134,600 30 

$36,658,762 32 

$99,221 80 

$3,497,878 26 
9,580,331 18 

$13,078,209 44 
9,243,897 29 

$3,834,312 15 

1,059,084 56 



$158,742,663 00 $2,775,227 59 



Miscellaneous. 



Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Stock dividends declared from organization of company, 
Dividends declared during the year (24 per cent) , 
Par value of company's stock owned by directors, 
Net premiums written during the year: motor vehicles, 
$1,429,246.39; tourists' baggage, $8,977.90; registered mail, 
$25,201.11; wind storms and tornadoes, $1,252,533.50; hail, 
$212,528.11; sprinkler leakage, $38,454.61; explosion,$7, 623.36; 
war risks (other than marine), $122,887.76. 
Losses incurred during the year: motor vehicles, $749,253.66; 
tourists' baggage, $2,000.02; registered mail, $7,578.95; wind 
storms and tornadoes, $421,047.08; hail, $108,075.26; sprin- 
kler leakage, $26,784.78; explosion, $1,449.80; war risks (other 
than marine), $2,523.78. 



$389,201,694 54 

195,924,874 79 

. 42,551,365 00 

. 2,805,000 00 

. 1,200,000 00 

251,900 00 



146 



AGRICULTURAL INSURANCE CO. 



AGRICULTURAL INSURANCE COMPANY, WATERTOWN, N. Y. 

Incorporated 1853.* Commenced business Feb. 17, 1853. 

Paid-up Capital, $1,000,000. 

W. H. STEVENS, President. P. H. WILLMOTT, Secretary. 

Home Office, 203 Washington Street. 

Income. 

Net fire premiums, 84,022,451.77; marine, S801, 396.55, . .$4,823,848 32 
Gross interest on mortgages, $28,981.93; collaterals, $40,152.27; 
stocks and bonds, $279,122.63; bank deposits, $14,031.31; 
all other, $3.85; gross rents for company's own occupancy, 

$2,500, . 364,791 99 

Agents' balances previously charged off, . . . . . 19 o'i 

Gross profit on sale or maturity of stocks and bonds, . . 17,638 13 

Gross increase in book value of bonds, ..... 18,894 73 



Total income, ...... 

Ledger assets, Dec. 31, 1919, plus $500,000 increase in capital, 

Total, 



. $5,225,192 
. 7,222,948 92 

-.448.141 59 



Disbursements. 
Net amount paid policv holders for fire losses, $1,693,585.62; 
marine, $546,738.61, .... 

Loss adjustment expenses, 

Agents' compensation, including brokerage, 

Agents' allowances, .... 

Field supervisory expenses, 
Salaries and fees of directors, officers and clerks, 
Rents, including $2,500 for company's own occupancy, 
Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to stockholders, .... 

Gross loss on sale or maturity of bonds, . 

Gross decrease in book value of stocks and bonds, 

All other disbursements, .... 



S2.240.324 23 

60.21.5 4n 

1,070,185 30 

5.494 22 

169,464 66 

172.622 07 

19,418 

6.939 90 

11,080 44 

154,796 91 

58,789 80 

128,455 03 

18,313 88 

8 03 

56.211 73 

828 51 

1,269 S7 

1,130 56 

700,000 00 

100,389 43 

1.426 48 

204 94 



Total disbursements, 
Balance, 



. $4,978,330 30 

. $7,469,811 29 



* Organized as a mutual company 1853, incorporated as a stock company Jan. 10, 1S63. 



AGRICULTURAL INSURANCE CO. 



147 



( 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Loans secured by collateral, ..... 

Book value of stocks, $1,982,936.84; bonds, $3,367,365.20, 
Cash in office, ....... 

Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 



$51,207 88 
479,582 00 
480,950 00 
5,350,302 04 
2,397 16 
617,932 73 
487,439 48 

$7,469,811 29 



Non-Ledger Assets. 

Interest due and accrued on mortgages, $10,962.94; bonds, 

$51,604.64; collateral loans, $2,322.55; other assets, $1,364.34, 

Reinsurance recoverable on paid losses, ..... 



Gross assets, 



66,254 47 
41,060 98 

',577,126 74 



Assets not admitted. 



Agents' balances over three months due, . 
Book value of stocks and bonds over market 
value, ...... 

Book value of real estate over market value, 
Reinsurance recoverable on paid losses, . 
Discount on foreign bank deposits, . 

Admitted assets, .... 



Liabilities. 

Unpaid losses, including $44,504.17 resisted, $1,368,930.19; 

less recognized reinsurance, $567,884.15, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 
Reserve for contingencies, 



$27,383 96 

59,885 14 
6,207 88 
584 21 
20,510 22 114,571 41 



$7,462,555 33 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$1,000,000 00 
1,607,793 86 



$801,046 04 

3,693,715 43 

20,000 00 

120,000 00 

20,000 00 

200,000 00 

$4,854,761 47 



2,607,793 86 
. $7,462,555 33 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized 
panies, ..... 

Net amount in force, 



Risks and Premiums. 

Risks. 

$766,902,400 00 
737,759,700 00 



com 



Premiums. 

$7,264,522 00 
6,919,589 48 

$14,184,111 48 
5,582,679 48 

$8,601,432 00 

2,241,041 00 
8696,920,100 00 $6,360,391 00 



$1,504,662,100 00 
560,977,800 00 

$943,684,300 00 
246,764,200 00 



148 



ALBANY INSURANCE CO. 



Marine risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, .... 
Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized 
panies, .... 



Net amount in force, 



com 



Miscellaneous. 



Risks. 

$55,692,700 00 
433,442,100 00 

$489,134,800 00 
424,183,300 00 

$64,951,500 00 

31,856,400 00 



Premiums. 

$619,272 00 

1,676,168 26 

$2,295,440 26 
1,515,196 11 

$780,244 15 

300,597 35 



$33,095,100 00 $479,646 80 



Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Stock dividends declared from organization of company, 

Cash dividends declared during the year, 

Stock dividends declared during the year, 

Par value of company's stock owned by directors, 

Net premiums written during the year: motor vehicles, $247,408; 

tourists' baggage, $14,913; registered mail, $5,042; wind 

storms and tornadoes, $101,348; hail, $251,528; sprinkler 

leakage, $11,186; explosion, $7,623. 

Losses incurred during the year: motor vehicles, 8173,687; 

tourists' baggage, $26,828; registered mail, $1,802; wind 

storms and tornadoes, $40,510; hail, $164,038; sprinkler 

leakage, $6,316; explosion, $653. 



$64,228,633 00 
31,597,593 00 
3,105,000 00 
900,000 00 
200,000 00 
500,000 00 
235,800 00 



ALBANY INSURANCE COMPANY, ALBANY, N. Y. 

Incorporated March 8, 1811. Commenced business March 16, 1811. Reorganized June 1, 1881. 

Paid-up Capital, $250,000. 
LED YARD COGSWELL, President. JOHN P. DEAL, Secretary. 

~~ Home Office, 93 State Street. 

Income. 

Net fire premiums, ........ 

Gross interest on mortgages, $14,753.03; stocks and bonds, 
$47,155.68; bank deposits, $645; all other, $3.85; gross rents, 
including $2,600 for company's own occupancy, 89,817.44, 

Gross profit on sale or maturity of bonds, .... 

Borrowed money, ......... 

Hahn and Deal agency, ....... 



$540,014 59 



72,375 00 

90 00 

10,000 00 

4,473 26 



Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 
Agents' compensation, including brokerage, 



. $626,952 85 
. 1,437,301 78 

. S2.064.254 63 



S23S.541 21 

4,931 29 

146,951 26 



ALBANY INSURANCE CO. 



149 



Agents' allowances, ...... 

Field supervisory expenses, ..... 

Salaries and fees of directors, officers and clerks, 
Rents, including $2,600 for company's own occupancy, 
Furniture and fixtures, ...... 

Maps, including corrections, ..... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Advertising, subscriptions, printing and stationery, 

Repairs and expenses on real estate, 

Taxes on real estate, 

Dividends to stockholders, 

Borrowed money repaid, 

Interest on borrowed money, . 

All other disbursements, 

Total disbursements, 

Balance, .... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Book value of stocks, $82,181.50; bonds, $997,418, . 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Deposit with Philadelphia Underwriters' Association, 

Total ledger assets, ..... 

Non-Ledger Assets. 

Interest due and accrued on mortgages, $1,254.94; bonds, 

$7,486.15, 

Market value of real estate over book value, .... 



Gross assets, 



$2,618 40 

8,126 52 

33,006 78 

3,041 80 

1,737 76 

1,300 75 

8,974 59 

14,022 49 

14,806 26 

1,440 63 

7,417 01 

3,706 62 

3,886 94 

30,000 00 

10,000 00 

53 33 

348 10 

$534,911 74 

$1,529,342 89 



$75,000 00 

248,550 00 

1,079,599 50 

5,083 64 

20,118 68 

15,000 00 

85,891 07 

100 00 

$1,529,342 89 



8,741 09 
5,000 00 

,543,083 98 



Assets not admitted. 



$757 02 

142,934 50 

100 00 



Agents' balances over three months due, . 

Book value of stocks and bonds over market 
value, ....... 

Deposit with Philadelphia Underwriters' Asso- 
ciation, ....... 

Admitted assets, ........ 

Liabilities. 

Unpaid losses, including $2,450 resisted, $50,874.01; less recog- 
nized reinsurance, $7,246.68, .... 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 

Total, 



143,791 52 
$1,399,292 46 



$43,627 33 

554,314 71 

1,050 18 

12,562 57 

4,767 03 

$616,321 82 



150 



THE ALLEMAXNIA FIRE INSURANCE CO. 



Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, .... 

Total liabilities, including surplus, 

Risks and Premiums. 



$250,000 00 
532,970 64 



$782,970 64 

$1,399,292 46 



Fire risks: 
In force Dec. 31, 1919, .... 
Written during the year, 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct reinsurance in recognized companies, 

Net amount in force, 



Risks. Premiums. 

$106,603,814 00 $1,052,790 18 
78,051,298 00 755,553 44 

2,487 21 



$184,655,112 00 $1,810,830 83 
56,751,898 00 598,346 87 



$127,903,214 00 $1,212,483 96 
18,964,905 00 187,901 41 



$108,938,309 00 $1,024,582 55 



Miscellaneous. 
Net premiums received from reorganization of company, . 
Net losses paid from reorganization of company, 
Cash dividends declared from reorganization of company, . 
Stock dividends declared from reorganization of company, 
Dividends declared during the year (12 per cent), 
Par value of company's stock owned by directors, 
Net premiums written during the year: wind storms and 

tornadoes, $1,857.93. 
Losses incurred during the year: wind storms and tornadoes, 

$181.55. 



$8,019,414 27 

4,054,278 71 

902,500 00 

50,000 00 

30.000 00 

44,000 00 



THE ALLEMANNIA FIRE INSURANCE COMPANY, PITTSBURGH, PA. 

Incorporated April 1, 1868. Commenced business July 1, 1868. 
_ Paid-up Capital, $500,000. 

W. STEINMEYER, President. CHARLES B. REITER, Secretary. 

Home Office, 316 Fourth Avenue. 

Income. 

Net fire premiums, $1,604,930 12 

Gross interest on mortgages, $34,741.95; collaterals, $3,545.33; 
stocks and bonds, $82,664.02; bank deposits, 86,498.37; 



all other, $357.79; gross rents, $10,597.96, 
Gross profit on sale or maturity of ledger assets, 

Total income, 
Ledger assets, Dec. 31, 1919, plus $300,000 increase in capital, 

Total, 

Disbursements. 

Net amount paid polic}- holders for fire losses, . 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 



138,405 42 
7,166 20 

SI, 750,501 74 
2,946,988 24 

$4,697,489 98 



8659.221 04 

16,071 66 

444.050 72 



THE ALLEMANNIA FIRE INSURANCE CO. 



151 



Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to stockholders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of real estate, 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, ..... 

Mortgage loans on real estate, .... 

Loans secured by collateral, ..... 

Book value of stocks, $47,493; bonds, $1,744,296.92, 
Cash in office, ....... 

Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ....... 

Non-Ledger Assets. 

Interest accrued on mortgages, $8,999; bonds, $28,335; collateral 

loans, $208, 

Market value of stocks and bonds over book value, . 

Gross assets, ......... 

Assets not admitted. 
Agents' balances over three months due, ..... 

Admitted assets, ........ 

Liabilities. 

Unpaid losses, including $7,631.86 resisted, $257,784.87; less 

recognized reinsurance, $86,786.66, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 

Total, 



$1,059 74 
39,129 52 
94,469 33 

7,564 63 

2,802 61 

3,374 09 
21,873 36 
59,776 38 
42,085 20 
11,987 04 

1,468 

21,173 

91 

3,117 

4,382 
344,000 

1,973 

2,038 

1,727 



19 
17 
18 
35 
03 
00 
75 
70 
58 



$1,783,437 27 
$2,914,052 71 



$118,583 69 

538,830 30 

15,600 00 

1,791,789 92 

5,007 59 

213,887 99 

230,353 22 

$2,914,052 71 



37,542 00 
27,623 65 

$2,979,218 36 



1,684 67 
$2,977,533 69 



$170,998 21 
1,447,859 03 

1,076 50 
40,937 34 

7,023 78 

$1,667,894 86 



lo2 THE ALLIANCE INSURANCE CO. OF PHILADELPHIA. 

Cash capital, $500,000 00 

Surplus over all liabilities 809,638 83 

Surplus to policy holders, .... $1,309 



Total liabilities, including surplus, $2,977,533 69 

Risks and Premiums. 

Fire risks I Risks. Premiums. 

In force Dec. 31, 1919, $280,267,078 00 $2,866,681 29 

Written during the year, .... 246,809,931 00 2,437,018 37 

Excess premiums on account of reinsurance, - 7,739 7:^ 



Total, $527,077,009 00 $5,311,439 39 

Expired and terminated, .... 191,240,13300 1,931,717 



In force at end of year, $335,836,876 00 $3,379,721 56 

Deduct reinsurance in recognized companies, . 61,793,953 00 682,659 22 



Net amount in force, .... $274,042,923 00 $2,697,062 34 



Miscellaneous. 
Xet premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Stock dividends declared from organization of company, 
Cash dividends declared during the year, 
Stock dividends declared during the year, 
Par value of company's stock owned by directors, 



$22,278,909 54 
10,398,347 08 
900,600 00 
350,000 00 
44,000 00 
300,000 00 
116,750 00 



THE ALLIANCE INSURANCE COMPANY OF PHILADELPHIA. 

PHILADELPHIA, PA. 

Incorporated Dec. 5, 1904. Commenced business Jan. 1, 1905. 

Paid-up Capital, $1,000,000. 

BENJAMIN RUSH, President. JOHN KREMER, Secretary. 

Home Office, Third and Walnut Streets. 

Income. 

Net fire premiums, $2,739,178.78; marine, $681,073.90, . . $3,420,252 68 

Deposit premiums on perpetual risks, ..... 2,005 00 
Gross interest on stocks and bonds, $203,763.43; bank deposits, 

$8,132.76; all other, $345.94, 212.242 13 

Agents' balances previously charged off, ..... 264 37 

Gross profit on sale or maturity of stocks and bonds, . . 7,392 17 

Premium on increase in capital, ...... 125,000 00 



Total income, ........ $3,767,156 35 

Ledger assets Dec. 31, 1919, plus S250,000 increase in capital, . 4,926,008 32 



Total, $8,693,164 67 



THE ALLIANCE INSURANCE CO. OF PHILADELPHIA. 



153 



Disbursements. 

Net amount paid policy holders for fire losses, $1,085,233.14; 

marine, $509,452.06, 

Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, gurveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Deposit premiums returned, .... 

Dividends to stockholders, .... 

Gross loss on maturity of bonds, 

Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, . . . . ... 



$1,594,685 20 

31,912 24 

675,309 62 

14,350 49 

82,421 92 

142,349 20 

10,276 73 

1,981 20 

1,703 50 

50,770 32 

113,591 41 

82,435 27 

9,012 92 

2,683 74 

51,948 96 

686 55 

565 00 

131,250 00 

490 00 

500 00 

300 00 

$2,999,224 27 

$5,693,940 40 



Ledger Assets. 

Book value of stocks, $495,763.87; bonds, $4,104,983.46, 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Bills receivable, ....... 

Reinsurance recoverable on paid losses, . 

Total ledger assets, ..... 



$4,600,747 33 

100 00 

22,971 79 

528,112 50 

528,808 63 

6,717 50 

6,482 65 

$5,693,940 40 



Non-Ledger Assets. 
Interest due and accrued on bonds, 

Gross assets, ...... 

Assets not admitted. 

Agents' balances over three months due, . 

Overdue and accrued interest on bonds in de- 
fault, ....... 

Book value of stocks and bonds over market 
value, . . . 

Reinsurance recoverable on paid losses, . 

Admitted assets, ..... 



68,313 06 



• 


. $5 


,762,253 46 


$21,173 


19 


• 


7,058 33 




317,717 
989 


30 
54 


346,938 36 




. $5 


,415,315 10 



154 



THE ALLIANCE INSURANCE CO. OF PHILADELPHIA. 



Liabilities. 

Unpaid losses, including $10,750 resisted, $952,951.52; less recog- 
nized reinsurance, $127,906.52, .... 
Unearned premiums on outstanding risks, 
Reclaimable on perpetual fire policies, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 



Total, 

Cash capital, ..... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 

Risks and Premiums. 



$1,000,000 00 
1,119,111 46 



$825,045 00 

2,310,710 48 

21,864 33 

110,000 00 
27,000 00 

$3,296,203 64 



2,119,111 46 
$5,415,315 10 



Fire risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, 

Expired and terminated, 

In force at end of year, . 

Deduct reinsurance in recognized companies, 

Net amount in force, 

Perpetual risks in force (not included above), 

Marine risks: 
In force Dec. 31, 1919, .... 
Written during the year, 

Total, . . ._ . 

Expired and terminated," 

In force at end of year, .... 
Deduct reinsurance in recognized companies, 



Risks. 

$401,946,536 00 
551,556,706 00 

$953,503,242 00 
402,858,838 00 

$550,644,404 00 
121,031,290 00 

$429,613,114 00 

'0,484 00 

$11,783,682 00 
146,445,174 00 

$158,228,856 00 
135,737,571 00 

$22,491,285 00 
102,350 00 



Premiums. 

$3,650,730 51 
5,055,452 85 

$8,706,183 36 
3,576,827 90 

$5,129,355 46 
1,169,97-4 59 

$3,959,380 87 
$24,293 70 

$176,862 14 
738,959 71 

$915,821 85 
640,649 25 

$275,172 60 
5,322 85 



Xet amount in force, 



$22,388,935 00 $269,849 75 



Miscellaneous. 



Xet premiums received from organization of company, 
Xet losses paid from organization of company, 
Cash dividends declared from organization of company. 
Dividends declared during the year, 
Par value of company's stock owned by directors, 
Xet premiums written during the year: motor vehicles, 
$429,933.72; tourists' baggage, $8,675.02; wind storms and 
tornadoes, $52,937.37; sprinkler leakage, $6,957.88; earth- 
quake, $3,573.96. 
Losses incurred during the year: motor vehicles, $279,384.30; 
tourists' baggage, $7,700; wind storms and tornadoes, $6,155.85; 
sprinkler leakage, $1,293.24; earthquake, $1,111.38. 



820,534,599 57 

10,785,586 10 

836,250 00 

131,250 00 

31,920 00 



AMERICAN INSURANCE CO. 



155 



AMERICAN INSURANCE COMPANY, NEWARK, N. J. 

Incorporated Feb. 20, 1846. Commenced business April 1, 1846. 

Paid-up Capital, $2,000,000. 

C. WESTON BAILEY, President. FREDERICK HOADLEY, Secretary. 

Home Office, 70 Park Place. 



Income. 

Net fire premiums, $8,250,497.16; marine, $1,307,460.07,' . . $9,557,957 23 

Gross interest on mortgages, $77,541.11; stocks and bonds, 
$554,711.49; bank deposits, $11,239.42; all other, $15,344.09; 
gross rents, including $37,814 for company's own occupancy, 

$41,849, 700,685 11 

Agents' balances previously charged off, . . . . . 581 68 



Total income, 
Ledger assets, Dec. 31, 1919, 

Total, . 



$10,259,224 02 
. 15,659,921 64 

$25,919,145 66 



Disbursements. 

Net amount paid policy holders for fire losses, $3,284,489.35 
marine, $572,935.82, .... 

Loss adjustment expenses, 

Agents' compensation, including brokerage, 

Agents' allowances, .... 

Field supervisory expenses, 
Salaries and fees of directors, officers and clerks, 
Rents, including $37,814 for company's own occupancy, 
Furniture and fixtures, . ... 

Maps, including corrections, ..... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Repairs and expenses on real estate, 

Taxes on real estate, ..... 

Dividends to stockholders, .... 

Gross loss on sale of ledger assets, . 
Gross decrease in book value of bonds, 
Auditing, ....... 

Total disbursements, .... 



$3,857,425 17 

107,482 20 

2,266,809 94 

15,247 32 

251,360 31 

515,477 94 

64,480 64 

20,314 02 

9,210 62 

178,625 10 

235,487 26 

250,788 93 

27,783 15 

236 40 

118,412 35 

734 98 

6,011 01 

20,123 86 

400,000 00 

16,794 00 

16,005 50 

7,258 60 

$8,386,069 30 



Balance, 



$17,533,076 36 



156 



AMERICAN INSURANCE CO. 



Ledger Assets. 
Book value of real estate, ...... 

Mortgage loans on real estate, ..... 

Book value of stocks, $3,267,927.93; bonds, $9,610,619.36, 
Cash in office, ........ 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, 
Agents' balances, ........ 

Bills receivable, ........ 

Reinsurance recoverable on paid losses, .... 

Total ledger assets, ...... 



'A, 700 00 

1,350,095 00 

12 878,547 29 

1,270 02 

65,098 50 

917,711 36 

1,303.1 4' 

537,896 54 

24,604 92 

S 17,533,076 36 



Xox-Ledger Assets. 
Interest due and accrued on mortgages, $22,412.44; bonds, 

si 08,87 1.97; rents due on company's property, $375, . 
Reinsurance recoverable on paid losses, . 

Gross assets,* ....... 



131,659 41 
47,024 46 

SI 7,71 1,760 23 



Assets not admitted. 

Agents' balances over three months due, . 
Bills receivable, past due, taken for premiums, . 
Excess of bills receivable, not past due, over 

unearned premium, ..... 
Book value of stocks and bonds over market 

value, ....... 

Reinsurance recoverable on paid losses, . 

Admitted assets, ..... 



$12,711 75 
85,449 05 

58,868 62 

1,130,065 15 
2,571 17 



1,289,665 74 



$16,422,094 49 



Liabilities. 

Unpaid losses, including- $25,793 resisted, $1,423,702.40; less 

recognized reinsurance, $293,136.47, 
Unearned premiums on outstanding risks, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 
Special reserve fund, ...... 



$1,130,565 93 

9,919,645 53 

100,000 00 

12,000 00 

225,000 00 

34,074 19 

300,000 00 



Total, ..... 
Cash capital, . . 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$2,000,000 00 
2,700,808 84 



$11,721,285 65 



4.700,808 84 



$16,422,094 49 



* Including $300,000 special reserve held under New Jersey laws. The company holds also instalment 
premium notes to the amount of $378,567.26, which do not enter into or form any part of the assets of 
the company, as no portion of them is earned. Whatever value is attached to them would necessarily 
be counterbalanced by the addition of an amount exactly equal to the reinsurance liability, the entire 
sum consisting of "unearned premiums." 



AMERICAN ALLIANCE INSURANCE CO. 



157 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$1,640,194,730 00 
1,460,406,902 00 



In force at end of year, . 
Deduct reinsurance in recognized 
panies, 

Net amount in force, 

Marine risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . . 

Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized 
panies, .... 



com- 



$3,100,601,632 00 

1,096,315,899 00 

$2,004,285,733 00 

310,977,124 00 



Premiums. 

$16,832,747 70 
13,061,941 81 

$29,894,689 51 
9,945,056 31 

$19,949,633 20 

3,124,138 84 



$1,693,308,609 00 $16,825,494 36 



Net amount in force, 



com- 



$863,425 91 

2,283,912 36 

$3,147,338 27 

1,906,963 10 

$1,240,375 17 

105,792 49 

$53,135,835 00 $1,134,582 68 



$45,525,130 00 
84,609,009 00 

$130,134,139 00 
68,023,641 00 

$62,110,498 00 

8,974,663 00 



Miscellaneous. 



Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Stock dividends declared from organization of company, 

Dividends declared during the year (20 per cent) , 

Par value of company's stock owned by directors, 

Net premiums written during the year: motor vehicles, 

$911,677.09; registered mail, $11,169.82; wind storms and 

tornadoes, $731,282.35; hail, $55,996.21; sprinkler leakage, 

$3,263.43; explosion, $1,092.12. 

Losses incurred during the year: motor vehicles, $368,858.30; 

registered mail, $4,560.09; wind storms and tornadoes, 

$259,591.53; hail, $18,646.18; sprinkler leakage, $1,630.07; 

explosion, $104.06. 



$92,611,306 06 
. 42,500,204 66 
. 6,728,058 26 
. 1,600,000 00 
400,000 00 
169,620 00 



AMERICAN ALLIANCE INSURANCE COMPANY, NEW YORK, N. Y. 

Incorporated Feb. 8, 1897. Commenced business Feb. 8, 1897. 

Paid-up Capital, $1,000,000. 

CHARLES G. SMITH, President. EDWARD M. CRAGIN, Secretary. 

Home Office, 1 Liberty Street. 

Income. 

Net fire premiums, $1,483,221.35; marine, $10,785.36, . . $1,494,006 71 
Gross interest on collaterals, $6,060.02; stocks and bonds, 
$168,567.41; bank deposits, $608.15, 175,235 58 



158 



AMERICAN ALLIANCE INSURANCE CO. 



Gross profit on sale or maturity of bonds, 
Gross increase in book value of stocks, 

Total income, . 

Ledger assets, Dec. 31, 1919, . 

Total, 



Disburse men 

Net amount paid policy holders for fire losses, $594,063.69; 

marine, $1,469.18, 

Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Salaries and fees of directors, officers and clerks. 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Legal expenses, 

Dividends to stockholders, 

Gross loss on sale or maturity of stocks and bonds, 

All other disbursements, 

Total disbursements, 

Balance, 



Ledger Assets. 

Book value of stocks, $924,849.78; bonds, §2,665,129.16, 
Cash in office, ....... 

Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Total ledger assets, ..... 

Xon-Ledger Assets. 
Interest due and accrued on bonds, 

Gross assets, ....... 



12 

800 00 

73,011 16 

10,559 05 

85,363,570 21 



5,532 87 

8,677 23 

460,117 61 

13,443 09 

45,785 63 

37,884 61 

2,576 27 

200,000 00 

154,903 68 

227 13 

81,519,148 12 

$3,844,422 09 



.589,978 94 

100 00 

98,921 30 

155,421 85 

13,844,422 09 



31,692 00 
$3,876,114 09 



Assets xot admitted. 

Overdue and accrued interest on bonds in de- 
fault, 1583 00 

Book value of stocks and bonds over market 

value, 122,656 67 



Admitted assets, .... 

Liabilities. 

Unpaid losses, including $8,470 resisted, $809,668; less recog- 
nized reinsurance, $642,934, 
Unearned premiums on outstanding risks, 
Federal, state and other taxes due or accrued, 



123,239 67 
$3,752,874 42 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



SI. 000, 000 00 
1,256,244 75 



$166,734 00 
1,284,895 67 

45,000 00 

Sl,496,629 67 



2.256.244 75 
S3.752.S74 42 



AMERICAN CENTRAL INSURANCE CO. 



159 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

$893,241,531 00 
872,442,496 00 



In force at end of year, . 
Deduct reinsurance in recognized 
panies, 

Net amount in force, 

Marine risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



com 



Premiums. 

$7,303,005 21 
7,275,761 42 

$14,578,766 63 
5,802,221 13 

$8,776,545 50 

6,513,616 20 

$299,510,823 00 $2,262,929 30 



$1,765,684,027 00 
688,619,533 00 

$1,077,064,494 00 

777,553,671 00 



. $9,690,591 00 

. 27,421,441 00 

$37,112,032 00 

. 17,668,646 00 



In force at end of year, . . . . $19,443,386 00 

Deduct reinsurance in recognized companies, . 18,706,913 00 



$169,759 57 

516.432 08 

$686,191 65 

338.433 32 

$347,758 33 
336,826 39 



Net amount in force, 



$736,473 00 $10,931 94 



Miscellaneous. 



Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Dividends declared during the year (20 per cent), 
Par value of company's stock owned by directors, 
Net premiums written during the year : motor vehicles, $10,441 .20 ; 
tourists' baggage, $344.16; wind storms and tornadoes, 
$46,810.92; war risks (other than marine), $322.28; sprinkler 
leakage, $4,214.12; explosion, $886.90; riot and civil commo- 
tion, $15,024.78. 
Losses incurred during the year: motor vehicles, $2,874.05 
tourists' baggage, $15; wind storms and tornadoes, $10,726.95 
war risks (other than marine), 0; sprinkler leakage, $858.26 
explosion, $84.94; riot and civil commotion, $234.77. 



$14,277,268 57 

7,240,632 03 

1,390,000 00 

200,000 00 

170,000 00 



AMERICAN CENTRAL INSURANCE COMPANY, ST. LOUIS, MO. 

Incorporated February, 1853. Commenced business February, 1853. 

Paid-up Capital, $1,000,000. 

B. G. CHAPMAN, Jr., President. HAROLD M. HESS, Secretary. 

Home Office, 816 Olive Street. 

Income. 

Net fire premiums, $4,694,341.37; marine, $672,421.78, . . $5,366,763 15 
Gross interest on mortgages, $900; collaterals, $247.52; stocks 
and bonds, $199,088.93; bank deposits, $12,912.32; all other, 
$1,610, • 214,758 77 



160 



AMERICAN CENTRAL INSURANCE CO. 



Agents' balances previously charged off, . 
Gross profit on maturity of bonds, . 
From all other sources, . 

Total income, .... 

Ledger assets, Dec. 31, 1919, . 

Total, 



2,671 30 
83 00 



. $5,584,675 05 

. 5,500,188 17 

SI 1,084,863 22 



Disbursements. 

Net amount paid policy holders for fire losses, $1,343,179.23; 

marine, $305,799.94, 

Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of bonds, 
Hargadine-McKittrick stock charged off, . 
Missouri Coal and Land Co. stock charged off, 
Tennessee Railroad bonds charged off, 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 



$1,648,979 17 

39,879 67 

1,273,736 88 

41,802 66 

167,174 32 

144,431 08 

17,708 05 

14,414 37 

6,147 32 

81,625 34 

84,593 04 

112,702 74 

10,496 05 

405 05 

71,316 82 

372 66 

44,051 25 

1,384 21 

60,000 00 

31,795 79 

123,561 54 

1,522 78 

$3,978,100 79 

$7,106,762 43 



Ledger Assets. 
Mortgage loans on real estate, .... 

Loans secured by collateral, ..... 

Book value of stocks, $413,183.73; bonds, $4,739,476.87, 
Cash in office, ....... 

Deposits in trust companies and banks not on interest, 
Deposits in trust companies and banks on interest, . 
Agents' balances, ....... 

Reinsurance recoverable on paid losses, . 

Total ledger assets, ..... 



815,000 00 

4,500 00 

. 5,152,660 60 

2,809 11 

29,104 43 

865,017 03 

. 1,007,796 33 

29,874 93 

. 87,106,762 43 



Xox-Ledger Assets. 

Interest accrued on mortgages, $207.08; bonds, $74,582.23; 
collateral loans, $61.88, ....... 



Gross assets, 



74,851 19 
. 87,181,613 62 



AMERICAN CENTRAL INSURANCE CO. 161 



Assets not admitted. 

Agents' balances over three months due, . . $7,345 11 
Book value of stocks and bonds over market 

value, 373,482 79 

Loan in excess of collateral, .... 60 00 

Reinsurance recoverable on paid losses, . . 6,983 88 $387,871 78 



Admitted assets, $6,793,741 84 

Liabilities. 

Unpaid losses, including $27,607 resisted, $968,202.28; less recog- 
nized reinsurance, $395,058.07, $573,144 21 



Unearned premiums on outstanding risks, 
Dividends declared and unpaid to stockholders, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 



3,962,535 86 

255 98 

2,200 41 

200,000 00 

50,000 00 



Total, $4,788,136 46 

Cash capital, $1,000,000 00 

Surplus over all liabilities, .... 1,005,605 38 

Surplus to policy holders, .... 2,005,605 38 



Total liabilities, including surplus, $6,793,741 84 

Risks and Premiums. 

Fire risks: Risks. Premiums. 

In force Dec. 31, 1919, . . . . $899,714,327 00 $9,096,268 22 

Written during the year, . . . 879,830,866 00 8,132,514 19 



Total, $1,779,545,193 00 $17,228,782 41 

Expired and terminated, - . . . 688,260,566 00 6,672,419 49 



In force at end of year, .... $1,091,284,627 00 $10,556,362 92 
Deduct reinsurance in recognized com- 
panies, 434,285,405 00 4,243,039 02 



Net amount in force, . . . $656,999,222 00 $6,313,323 90 

iVI f\ T*l Y\ P 1*1 QlvQ* 

In force Dec. 31, 1919, . . . . $37,833,337 00 $545,943 59 

Written during the year, . . . 60,042,659 00 830,568 18 



Total, $97,875,996 00 $1,376,511 77 

Expired and terminated, . . . 51,537,152 00 745,846 80 



In force at end of year, .... $46,338,844 00 $630,664 97 

Deduct reinsurance in recognized com- 
panies, . . . . . . 279,988 00 2,720 10 



Net amount in force, . . . $46,058,856 00 $627,944 87 



162 



THE AMERICAN DRUGGISTS FIRE INSURANCE CO. 



Miscellaneous. 

Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Par value of company's stock owned by directors, 
Net premiums written during the year: motor vehicles, 
$672,465.52; wind storms and tornadoes, $179,592.16; sprin- 
kler leakage, $47.98; explosion, $164.33; war risks (other than 
marine), $2,269.10. 
Losses incurred during the year: motor vehicles, $377,973.77; 
wind storms and tornadoes, $45,431.44; sprinkler leakage, 0; 
explosion, 0; war risks (other than marine), 0. 



$69,776,252 23 

37,840,457 32 

4,017,931 00 

450 00 



THE AMERICAN DRUGGISTS' FIRE INSURANCE COMPANY, 

CINCINNATI, O. 

Incorporated February, 1906. Commenced business Jan. 15, 1907. 

Paid-up Capital, $300,000. 

CHARLES H. AVERY, President. FRANK H. FREERICKS, Secretary. 

Home Office, 1004 Mercantile Library Building. 

Income. 

Net fire premiums, . ... $258,698 73 
Gross interest on stocks and bonds, $28,117.77; bank deposits, 

$487.01; gross rents, $2,232.85, 30,837 63 

Gross increase in book value of bonds, . . . . . 1,781 20 

Premium on increase in capital, ...... 5,000 00 

From all other sources, ........ 29 50 

Total income, $296,347 06 

Ledger assets, Dec. 31, 1919, plus $100,000 increase in capital, . 732,468 82 

Total, 

Disbursements. 
Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Agents' allowances, ....... 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents, .......... 

Furniture and fixtures, ....... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery, . 
Repairs and expenses on real estate, .... 

Taxes on real estate, ....... 

Dividends to stockholders, ...... 

Gross loss on sale of bonds, ...... 



. $1,028,815 


88 


$88,569 60 


2,823 


64 


23,442 


13 


317 


06 


11,841 


33 


25,501 


17 


2,241 


00 


233 


95 


1,865 


87 


17,354 08 


12,197 


80 


1,864 43 


99 


05 


8,656 


25 


188 4 


706 


77 


20,000 00 


6,082 23 



THE AMERICAN DRUGGISTS FIRE INSURANCE CO. 



163 



Gross decrease in book value of bonds, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of real estate, .... 

Book value of stocks, $30,165; bonds, $681,518.22, 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Reinsurance recoverable on paid losses, . 

Total ledger assets, .... 

Non-Ledger Assets. 
Interest accrued on bonds, $4,835.30; other assets, $66.41, 

Gross assets, ......... 

Assets not admitted. 
Book value of stocks and bonds over market value, . 

Admitted assets, ........ 

Liabilities. 

Unpaid losses, $7,566.27; less recognized reinsurance, $1,376.30, 
Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, 
Federal tax held in abeyance, 



$135 15 
1,438 80 



Total, .... 
Cash capital, 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 

Risks and Premiums. 



$300,000 00 
327,636 93 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 

In force at end of year, . 

Deduct reinsurance in recognized companies, 

Net amount in force, 



Risks. 

$27,752,293 00 
34,233,060 00 

$61,985,353 00 
28,109,169 00 

$33,876,184 00 
8,110,686 00 



$225,558 75 
$803,257 13 



$46,785 46 

711,683 22 

1,809 19 

10,386 92 

32,550 24 

42 10 

$803,257 13 



4,901 71 

$808,158 84 



11,401 59 
$796,757 25 



$6,189 97 

136,710 00 

2,311 36 

12,432 76 

11,476 23 

$169,120 32 



627,636 93 
$796,757 25 



Premiums. 

$303,034 01 
364,915 45 

$667,949 46 
300,344 47 

$367,604 99 
96,420 18 



$25,765,498 00 $271,184 81 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Cash dividends declared from organization of company, 
Dividends declared during the year, 
Par value of company's stock owned by directors, 



,718,091 90 

513,268 41 

200,000 00 

20,000 00 

37,912 50 



164 



AMERICAN EAGLE FIRE INSURANCE CO. 



AMERICAN EAGLE FIRE INSURANCE COMPANY, NEW YORK, N. Y. 

Incorporated Aug. 14, 1915. Commenced business Aug. 14, 1915. 
Paid-up Capital, $1,000,000. 



NORMAN T. ROBERTSON, President. 



F. R. MILLARD, 
ERNEST STURM, 
HERBERT E. MAXSON, 
GOMER H. REES, 
PAUL L. HAID, 
E. A. HENNE, 
C. W. PIERCE, 
C. E. ALLAN, 



< Secretaries. 



Home Office, 80 Maiden Lane. 

Income. 

Net fire premiums, $2,478,904.31; marine, $214,324.65, 

Gross interest on stocks and bonds, $184,172.99; bank deposits, 

$9,550.72; all other, $817.54, 
Gross profit on sale of stocks and bonds, . 
Gross increase in book value of stocks and bonds, 
Income tax withheld at source, 
Profit on account of syndicate participation, 

Total income, ....... 

Ledger assets, Dec. 31, 1919, ...... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, $949,679.39 

marine, $197,387.23, 

Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Agents' allowances, ..... 

Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Dividends to stockholders, .... 

Gross loss on sale of stocks and bonds, 

Gross decrease in book value of stocks and bonds, 

Income tax withheld at source, 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 



$2,693,228 96 

194,541 25 

13,423 00 

8,770 00 

60 77 

3,509 00 

12,913,532 98 

3,851,478 76 

$6,765,011 74 



$1,147,066 62 

12,694 58 

522,122 11 

379 32 

51,365 19 

113,696 68 

10,165 86 

3,170 16 

3,787 88 

27,633 32 

22.674 77 

45,619 

8,248 

181 

35,693 

140,000 

103,434 

268,855 00 

184 77 

82 



95 
82 
92 
71 
00 
00 



iO 



$2,517,057 41 

$4,247,954 33 



AMERICAN EAGLE FIRE INSURANCE CO. 



165 



Ledger Assets. 

Book value of stocks, $1,932,454; bonds, $1,056,391, 
Cash in office, ....... 

Deposits in trust companies and banks on interest, 
Agents' balances, ....... 

Reinsurance recoverable on paid losses, . 

Total ledger assets, ...... 

Non-Ledger Assets. 

Interest accrued on bonds, $14,972.05; other assets, $477.64, 
Market value of stocks and bonds over book value, . 

Gross assets, ........ 

Assets not admitted. 
Agents' balances over three months due, .... 

Admitted assets, ....... 



$2,988,845 00 

300 00 

422,837 92 

831,885 04 

4,086 37 

$4,247,^54 33 



15,449 69 
417,031 00 

$4,680,435 02 

5,385 71 
$4,675,049 31 



Liabilities. 

Unpaid losses, including $9,941.45 resisted, $1,050,765.31; less 

recognized reinsurance, $639,534.76, . . . . . $411,230 55 



Unearned premiums on outstanding risks, 
Salaries, expenses and accounts due or accrued, 
Federal, state and other taxes due or accrued, . 
Contingent commissions or other charges due or accrued, 
Income tax withheld at source, .... 
Interest paid in advance, ..... 



Total, ...... 

Cash capital, ..... 

Surplus over all liabilities, 

Surplus to policy holders, .... 

Total liabilities, including surplus, 

Risks and Premiums. 



$1,000,000 00 
1,310,228 65 



1,866,325 83 

4,500 00 

62,726 00 

18,245 51 

60 77 

1,732 00 

$2,364,820 66 



2,310,228 65 



. $4,675,049 31 



Fire risks : 
In force Dec. 31, 1919, .... 
Written during the year, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct reinsurance in recognized com- 
panies, ...... 

Net amount in force, 



Risks. Premiums. 

$845,626,962 00 $7,753,456 31 
829,532,881 00 8,194,645 43 



,675,159,843 00 $15,948,101 74 
583,498,446 00 6,245,893 92 



$1,091,661,397 00 $9,702,207 82 
743,388,662 00 6,583,980 83 



$348,272,735 00 $3,118,226 99 



166 



AMERICAN EQUITABLE ASSURANCE CO. OF NEW YORK. 



Marine risks : 
In force Dec. 31, 1919, . 
Written during the year, 

Total, 

Expired and terminated, 

In force at end of year, . 
Deduct reinsurance in recognized com 
panies, ..... 



Net amount in force, 



Risks. 

$28,109,571 00 
55,157,236 00 



Premiums. 

$411,866 81 
969,300 32 



$83,266,807 00 $1,381,167 13 
32,200,900 00 703,776 45 



$51,065,907 00 
35,975,447 00 



$677,390 68 

479,157 42 



$15,090,460 00 $198,233 26 



Miscellaneous. 



Net premiums received from organization of company, 

Net losses paid from organization of company, 

Cash dividends declared from organization of company, 

Dividends declared during the year (14 per cent), 

Par value of company's stock owned by directors, 

Net premiums written during the vear: motor vehicles, 

$148,236.42; tourists' baggage, $22.35; registered mail, 

$1,674.64; wind storms and tornadoes, $25,976.89; hail, 

$127,167.47; sprinkler leakage, $2,385; explosion, $1,423.13; 

earthquake, $242.82. 

Losses incurred during the year: motor vehicles, $78,265.72; 

tourists' baggage, 0; registered mail, $1,008.02; wind storms 

and tornadoes, $2,956.20; hail, $74,135.31; sprinkler leakage, 

$841.88; explosion, $109.85; earthquake, 0. 



$7,581,584 41 

2,697,919 93 

690,000 00 

140,000 00 

6,000 00 



AMERICAN EQUITABLE ASSURANCE COMPANY OF NEW YORK,* 

NEW YORK, N. Y. 

Incorporated Dec. 17, 1920. Commenced business Dec. 17, 1920. 

Paid-up Capital, $500,000. t 

RICHARD A. CORROONr-President. THOMAS A. DUFFEY, Secretary. 

Home Office, 68 William Street. 

Income. 

Net fire premiums, $1,519,860.89; marine, $677,970.38, . $2,197,831 27 
Gross interest on mortgages, $5,025.82; stocks and bonds, 

$104,544.72; bank deposits, $7,763.61; all other, $1,408.14, 118,742 29 

Gross profit on sale of bonds, . . . . . . . 159 38 

Gross increase in book value of bonds, . . . . . 150 00 

Sight draft on Manufacturers Insurance Company for transfer 

of funds, 15,000 00 

Increase in advance recoveries for reinsurance, . . . 156,048 S3 



Total income, 
Ledger assets, Dec. 31, 1919, 

Total, . 



. $2,487,931 77 
. 2,903,997 92 

. $5,391,929 69 



* Merger of American Equitable Assurance Company of New York and Manufacturers Insurance 
Company of America, Chicago. The combined figures of the two companies are shown below. 
t Capital decreased $300,000 without distribution of assets. 



AMERICAN EQUITABLE ASSURANCE CO. OF NEW YORK. 



167 



Disbursements. 

Net amount paid policy holders for fire losses, $805,435.40 

marine, $448,387.89, 

Loss adjustment expenses, . . 

Agents' compensation, including brokerage, 
Field supervisory expenses, .... 

Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Maps, including corrections, .... 

Inspections, surveys, underwriters' boards and tariff associations 

Federal taxes, . 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery, 
Agents' balances charged off, .... 

Dividends to stockholders, .... 

Dividends to policy holders, .... 

Gross loss on sale of bonds, .... 

Gross decrease in book value of stocks and bonds, 
Foreign exchange, ..... 

Investment expense, ..... 

Excess insurance, ...... 

Decrease in advance recoveries for reinsurance, 
All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Mortgage loans on real estate, .... 

Book value of stocks, $138,000; bonds, $2,186,877.62, 
Cash in office, ...... 

Deposits in trust companies and banks on interest, 
Agents' balances, ...... 

Funds deposited under reinsurance treaty, 
Accounts receivable, ..... 



Total ledger assets, ...... 

Non-Ledger Assets. 

Interest accrued on mortgages, $517.90; bonds, $25,243.75, 
Reinsurance recoverable on paid losses, .... 

Gross assets, ........ 



$1,253,823 29 

22,312 28 

785,080 00 

1,152 10 

25,461 36 

3,434 30 

490 70 

105 00 

14.303 34 
17,518 75 
31,054 38 

1,006 61 

2,443 26 

5,751 55 

42 95 

108,000 00 

15.304 66 
425 00 

38,482 50 

22,799 56 

31 26 

12,098 66 

157,912 09 

3 46 

$2,519,037 06 

$2,872,892 63 



$32,250 00 

2,324,877 62 

5,393 52 

165,980 81 

308,715 68 

35,375 00 

300 00 

$2,872,892 63 



25,761 65 
15,658 93 

. $2,914,313 21 



Assets not admitted. 

Agents' balances over three months due, . . $169 75 

Accounts receivable, ..... 300 00 
Book value of stocks and bonds over market 

value, 10,463 42 10,933 17 



Admitted assets, 



. $2,903,380 04 



168 



AMERICAN EQUITABLE ASSURANCE CO. OF NEW YORK. 



LlABILITU 

Unpaid losses, including $28,614.97 resisted, 8976,373.81; km 
recognized reinsurance, §395,263.58, ..... 

Unearned premiums on outstanding risk-, . . . . 

Federal, state and other taxes due or accrued, .... 

Advance recoveries for reinsurance, ..... 

Sight draft on Manufacturers Insurance Company for transfer 
of funds, .......... 



Total, 

Cash capital, ...... 

Surplus over all liabilities, .... 

Surplus to policy holders, . . . . - 

Total liabilities, including surplus, 

Risks and Premiums. 



§500,000 00 
447.666 14 



$581,11! 
1.261.M. 

30,000 00 

67,75V 

15,000 00 
$1,955,713 90 



947,666 14 
$2,903,380 04 



Fire risks: 
In force Dec. 31, 1919, .... 
Written during the year, 
Excess premiums on account of reinsurance, 

Total, 

Expired and terminated, 

In force at end of year, .... 
Deduct reinsurance in recognized companies, 

Net amount in force, 

Marine risks: 
In force Dec. 31, 1919, .... 
Written during the year, 

Total, . t . .- . 
Expired and terminated, 

In force at end of year, .... 
Deduct reinsurance in recognized companies, 

Net amount in force, 



Risks. 

$280,046,395 00 
586,092,690 00 



$866,139,085 00 
506,941,670 00 

$359,197,415 00 
181,534,394 00 



Premiums. 

S2.442.41 
4,585,757 73 
330.745 4^ 

$7,358,917 09 
3,950,849 70 

$3,408,067 39 
1,674,60s 45 



$177,663,021 00 $1,733,458 94 



S52,508,159 00 
172.245.270 00 

S224.753.429 00 
159.172.376 00 

$65,581,053 00 
32,152.917 00 



$586,80* 2 
3,075,591 85 

$3,662,400 09 
2.414,111 57 

$1,248,28* - 

786,333 87 



$33,428,136 00 $461,954 65 



Miscellaneous. 

Net premiums received from organization of company, 

Net losses paid from organization of company. 

Cash dividends declared from organization of company, 

Dividends declared during the year. 

Par value of company's stock owned by directors, 

Net premiums written during the year: motor vehicles, 

$224,383.09; wind storms and tornadoes. $6,248.68; hail, 

$5,706.66. 
Losses incurred during the year: motor vehicles, $160,441.03; 

wind storms and tornadoes, $1,016.31; hail, $3,009.47. 



S5.S44.509 12 

2.439,912 66 

178,000 00 

108,000 00 

178,875 00 



AMERICAN FIRE INSURANCE CORPORATION OF NEW YORK. 169 



AMERICAN FIRE INSURANCE CORPORATION OF NEW YORK, 

NEW YORK, N. Y. 

Incorporated March 14, 1919. Commenced business July 1, 1919. 

Paid-up Capital, S200.000. 

C. F. STURHAHN, President. T. B. BOSS, Secretary. 

Home Office, 84 William Street. 

Income. 

Net fire premiums, • $1,216,830 33 

Gross interest on stocks and bonds, $28,615.63; bank deposits, 



>,178.52, 

Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, . 
Loss adjustment expenses, .... 

Agents' compensation, including brokerage, 
Salaries and fees of directors, officers and clerks, 
Inspections, surveys, underwriters' boards and tariff 
Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Printing and stationery, .... 

Management expenses, ..... 

All other disbursements, .... 

Total disbursements, .... 

Balance, ...... 

Ledger Assets. 
Book value of stocks, $71,600; bonds, $775,729, 
Deposits in trust companies and banks on interest, 
Agents' balances, ...... 



associations 



37,794 15 

$1,254,624 48 

793,993 82 

$2,048,618 30 



$450,775 22 

5,210 49 

354,999 93 

5,140 00 

553 11 

490 00 

18,762 72 

50 84 

1,181 68 

36,215 29 

68 47 

$873,447 75 

1,175,170 55 



$847,329 00 

291,827 12 

36,014 43 



Total ledger assets, 

Interest accrued on bonds, 
Gross assets, . 



Non-Ledger Assets. 



Assets not admitted 

Book value of stocks and bonds over market 
value, ....... 

Discount on Canadian bank deposits, 

Admitted assets ..... 



. 


$1,175,170 55 


. 


7,901 04 


. 


$1,183,071 59 


$1,809 00 
929 22 


2,738 22 



. $1,180,333 37 



170 



UNDERWRITERS AT AMERICAN LLOYDS. 



Liabilities. 

Unpaid losses, $183,173; less recognized reinsurance, $58,889, 
Unearned premiums on outstanding risks, 
Federal, state and other taxes due or accrued, . 



Total, 

Cash capital, .... 

Surplus over all liabilities, 
Surplus to policy holders, 

Total liabilities, including surplus, 



$200,000 00 
203,210 90 



$124,284 00 

051,108 47 

1,730 00 

$777,122 47 



403,210 90 
$1,180,333 37 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. 

§47,565,885 00 
243,129,759 00 



In force at end of year, . 

Deduct reinsurance in recognized companies, 

Net amount in force, 



$290,695,644 00 
100,019,919 00 

$190,675,725 00 
72,491,393 00 



Premiums. 

$447,478 32 
2,271,321 59 

$2,718,799 91 
947,380 50 

$1,771,419 41 
677,698 76 



$118,184,332 00 $1,093,720 65 



Miscellaneous. 
Net premiums received from organization of company, 
Net losses paid from organization of company, 
Par value of company's stock owned by directors, 
Net premiums written during the year: wind storms and torna- 
does, $15,193.78; hail, $36,330.90. 
Losses incurred during the year: wind storms and tornadoes, 
$2,859.51; hail, $15,684.08. 



,684,556 56 

474,286 95 

12,500 00 



UNDERWRITERS AT AMERICAN LLOYDS, NEW YORK, N. Y. 

Commenced business April 30, 1890. 
HALL & TROWBRIDGE, Attorneys. 

Home Office, 80 Maiden Lane. 



Income. 
Net fire premiums, ....... 

Gross interest on bonds, $26,026.28; bank deposits, $709.30, 
Gross profit on maturity of bonds, ..... 

Gross increase in book value of bonds, .... 

Borrowed money, ........ 

Deposit of new subscriber, ...... 

Total income, ....... 

Ledger assets, Dec. 31, 1919, ...... 

Total, 



$272,474 94 

26,735 58 

890 00 

15,855 00 

20,000 00 

2,000 00 

$337,955 52 
752,337 01 

$1,090,292 53 



UNDERWRITERS AT AMERICAN LLOYDS. 



171 



Disbursements. 

Net amount paid policy holders for fire losses, . 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Inspections, surveys, underwriters' boards and tariff associations 

Federal taxes, ........ 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Dividends to subscribers, ...... 

Gross decrease in book value of bonds, .... 

Borrowed money repaid, ...... 

Interest on borrowed money, ...... 

Interest to subscribers, ....... 

Auditing, . . . . . . . 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ........ 

Ledger Assets. 
Book value of bonds, ....... 

Deposits in trust companies and banks on interest, . 
Agents' balances, ........ 

Total ledger assets, ...... 

Non-Ledger Assets. 
Interest accrued on bonds, ...... 

Market value of bonds over book value, .... 

Reinsurance recoverable on paid losses, .... 



Gross assets, ........ 

Assets not admitted. 
Agents' balances over three months due, .... 

Admitted assets, ....... 

Liabilities. 

Unpaid losses, including $3,000 resisted, $45,403.25; less recog 

nized reinsurance, $15,269.57, ..... 
Unearned premiums on outstanding risks, 
Interest due or accrued to subscribers, .... 
Federal, state and other taxes due or accrued, . 
Reserve on account of credit balances of retired subscribers, 



Total, . 
Subscribers' deposits, 
Surplus over all liabilities, 
Surplus to policy holders, 



$100,000 00 
332,183 73 



$94,154 18 

2,406 74 

86,429 62 

65 00 

2,720 00 

3,614 50 

3,247 96 

8,110 05 

63 74 

33 53 

7,680 00 

84,927 19 

20,000 00 

553 34 

37,526 42 

1,825 00 

75 00 

$353,432 27 

$736,860 26 



$648,650 63 
56,282 22 
31,927 41 

$736,860 26 



6,652 37 
32,000 37 

242 27 

$775,755 27 



1,927 73 

$773,827 54 



$30,133 68 

207,532 73 

23,077 40 

20,900 00 

60,000 00 

$341,643 81 



432,183 73 



Total liabilities, including surplus, 



$773,827 54 



172 



AMERICAN MUTUAL FIRE INSURANCE CO. 



Fire risks: 
In force Dec. 31, 1919, . 
Written during the year, 

Total, . 
Expired and terminated, 



Risks and Premiums. 

Risks. Premiums. 

§79,482,712 00 $530,462 13 

87,300,473 00 553,001 37 



In force at end of year, . 

Deduct reinsurance in recognized companies, 

Net amount in force, 



$166,783,185 00 $1,083,523 50 
84,972,651 00 500,075 06 



881,810,534 00 $583,448 44 
27,543,532 00 177,752 19 



$54,267,002 00 $405,696 25 



Miscellaneous. 
Net premiums received from organization of company, . . $7,278,566 14 
Net losses paid from organization of company, . . . 2,532,722 43 

Cash dividends declared from organization of company, . . 1,199,621 25 
Dividends declared during the year, ..... 7,680 00 

Net premiums written during the year: sprinkler leakage, 

$75,166.11. 
Losses incurred during the year: sprinkler leakage, $26,926.90. 



AMERICAN MUTUAL FIRE INSURANCE COMPANY, 
PROVIDENCE, R. I. 

Incorporated June 1, 1877. Commenced business June 1, 1877. 
JOHN R. FREEMAN. President. THEODORE P. BOGERT, Secretary. 

Office, 10 Weybosset Street. 

Income. 
Net fire premiums, .... ... $1,161,981 72 

Gross interest on stocks and bonds, $64,957.12; bank deposits, 

$5,288.28; all other, $7.63, .... . 70,253 03 

Gross profit on sale of stocks, ...... 90 66 

Canadian exchange, ..... . 796 50 

Total income, ..... 

Ledger assets, Dec. 31, 1919, .... 

Total, 

DlSB URSEMENTS. 

Net amount paid policy holders for fire losses, . 
Salaries and fees of directors, officers and clerks, 
Rents, ........ 

Furniture and fixtures, ..... 

Inspection department, for inspections, maps, plans 
ment of losses, ...... 

Federal taxes, ...... 

Other taxes, licenses and fees, 

Postage, telegraph, telephone, exchange and express, 

Legal expenses, ...... 

Advertising, subscriptions, printing and stationery. 





$1,233,121 91 


• 


1,285,978 10 


12,519,100 01 


$67,506 49 




17,566 50 




1,585 7S 




1,412 52 


and adjust- 




. 


25.943 02 


m m 


2,547 13 


. 


11,024 60 


# 


971 99 


m m 


701 05 


. 


3.0S5 34 



AMERICAN MUTUAL FIRE INSURANCE CO. 173 

Dividends to policy holders, $752,835 25 

Gross decrease in book value of stocks, ..... 32,207 72 

Total disbursements, $917,387 39 

Balance, $1,601,712 62 

Ledger Assets. 

Book value of stocks, $735,391.52; bonds, $659,119.63, . . $1,394,511 15 

Deposits in trust companies and banks on interest, . . . 141,193 20 

Premiums in course of collection, ...... 66,008 27 

Total ledger assets, $1,601,712 62 

Non-Ledger Assets. 

Interest accrued on bonds, ....... 9,347 78 

Gross assets, $1,611,060 40 

Assets not admitted. 

Premiums over three months due, . . . $1,387 38 

Book value of stocks and bonds over market 

value, 50,408 25 

Discount on Canadian bank deposits, . . 3,724 27 55,519 90 

Admitted assets, $1,555,540 50 

Liabilities. 

Unpaid losses, . . . . ^ $10,279 47 

Unearned premiums on outstanding risks, .... 883,675 53 

Salaries, expenses and accounts due or accrued, . . . 507 48 

Federal, state and other taxes due or accrued, . . . . 21,151 33 

Total, $915,613 81 

Surplus to policy holders, ....... 639,926 69 

Total liabilities, including surplus, . . . . . $1,555,540 50 

Risks and Premiums. 

Fire risks: Risks. CashPrem's. Conting't Prem's. 

In force Dec. 31, 1919, . $180,459,753 00 $1,299,336 73 $6,496,683 65 

Written during the year, . 171,190,827 00 1,248,602 63 6,243,013 15 



Total, . . . $351,650,580 00 $2,547,939 36 $12,739,696 80 

Expired and terminated, . 137,414,693 00 1,003,982 70 5,019,913 50 

In force at end of year, . $214,235,887 00 $1,543,956 66 $7,719,783 30 

Miscellaneous. 
Net premiums received from organization of company, . $11,602,646 59 

Xet losses paid from organization of company, . . . 1,734,897 20 

Cash dividends paid policy holders from organization of company, 8, 199, 183 23 
Dividends to policy holders during 1920: 91, 81, 68, 51 and 46 

per cent. 
Losses incurred during the year: wind storms and tornadoes, 

$2,047.04; sprinkler leakage, $4,833.85. 



174 



ASSURANCE COMPANY OF AMERICA. 



$522,564 20 

53,415 90 

175 00 

1,087 10 

$577,242 20 
1,099,404 28 



ASSURANCE COMPANY OF AMERICA, NEW YORK, N. Y. 

Incorporated Feb. 25, 1897. Commenced business April 1, 1897. 

Paid-up Capital, S200.000. 

R. BLEECKER RATHBONE, President. CHARLES S. CONKLIN, Secretary. 

Home Office, 80 Maiden Lane. 

Income. 

Net fire premiums, $391,818.02; marine, $130,746.18, 

Gross interest on mortgages, $5,869.50; stocks and bonds, 

$45,112.05; bank deposits, $2,434.35, 

Gross profit on sale of bonds, ....... 

Gross increase in book value of bonds, ..... 

Total income, ........ 

Ledger assets, Dec. 31, 1919, ....... 

Total, 

Disbursements. 

Net amount paid policy holders for fire losses, $163,327.76 
marine, $57,416.91, ....... 

Loss adjustment expenses, ...... 

Agents' compensation, including brokerage, 

Field supervisory expenses, ...... 

Salaries and fees of directors, officers and clerks, 

Rents. .......... 

Furniture and fixtures, ....... 

Maps, including corrections, ...... 

Inspections, surveys, underwriters' boards and tariff associations 
Federal taxes, . . . . 

Other taxes, licenses and fees, ..... 

Postage, telegraph, telephone, exchange and express, 
Legal expenses, ........ 

Advertising, subscriptions, printing and stationery, . 
Dividends to stockholders, ...... 

Gross loss on sale of stocks, ...... 

Gross decrease in book value of stocks and bonds, 
Auditing, ......... 

All other disbursements, ...... 

Total disbursements, ...... 

Balance, ..